BlackRock’s Ether ETF Smashes Records: Fastest $10B Haul in Crypto Fund History
Wall Street’s crypto love affair hits hyperdrive as BlackRock’s Ether ETF rockets to $10B in just one year—third fastest fund ever to cross the milestone. Who said institutions were slow?
Behind the numbers: The fund’s blistering growth leaves traditional finance ETFs choking on dust. Guess those ‘risky’ digital assets aren’t so scary with BlackRock’s stamp of approval.
Cynic’s corner: Nothing like a 10-figure inflow to make asset managers forget their 2022 ‘crypto is a scam’ PowerPoint decks.
New Inflow Record for Fidelity
BlackRock’s ETHA fund saw a rare zero inflow day on Thursday, but Fidelity made up for that with a $210 million inflow for its FETH fund. This was also a new inflow record for the asset manager, observed industry expert Nate Geraci.
The total inflow for the day for spot Ether ETFs in the United States was $231 million, marking the fifteenth consecutive trading day in a row without an outflow. The last aggregate outflow from the nine funds was just $1.9 million on July 2.
More than $3 billion has entered the funds over the past seven trading days, representing about a third of the entire inflow since they launched in July 2024.
Geraci also observed on Friday that spot Ether ETFs have taken in more new capital than spot Bitcoin ETFs in each of the past six trading days, with $2.4 billion compared to $830 million in totals.
It’s a “noticeable difference,” he said, adding that it is also “something to watch.”
Bitwise has estimated that ETPs and corporate treasuries have combined to buy 2.8 million ETH since mid-May, around 32 times the net new supply over the same time period.
ETH Holds Steady, BTC Dumps
The sustained buying pressure has prevented ETH from doing its usual dump when Bitcoin retreats. In fact, ETH has remained flat on the day while BTC dumped more than 3% over the past 12 hours.
Ether prices are currently at $3,630, and the asset has entered a range-bound channel over the past week. ETH remains up 48% over the past month as institutional funds and corporate treasuries drive demand.
“We’re optimistic that BTC and altcoins will recover from the current dip as Ether ETFs and crypto options set to expire,” said Nick Ruck, director at LVRG Research.
