BlackRock Goes Big: 150,000 ETH Purchase Fuels $1 Billion ETF Inflow Frenzy

Wall Street's crypto love affair hits new heights as BlackRock snaps up a staggering 150,000 ETH—triggering record-breaking ETF inflows.

The $1 billion floodgate

Digital asset ETFs just smashed their previous records, pulling in enough institutional cash to make even Jamie Dimon's Bitcoin-skeptic heart skip a beat. BlackRock's massive Ether move signals growing institutional FOMO—despite the usual Wall Street posturing about 'blockchain not Bitcoin.'

When traditional finance finally plays catch-up, they don't do half measures. Though you've got to wonder—are they late to the party, or just fashionably late with deeper pockets?

BlackRock Leads The Way

BlackRock’s ETHA fund saw a record day with a whopping $640 million inflow as it scooped up more than 150,000 ETH. The fund has now seen more than $10 billion in total inflows, most of which have come over the past month, according to CoinGlass.

Fidelity’s FETH fund saw a record $277 million inflow, with the product taking in over 65,000 ETH on Monday. Even Grayscale’s mini ethereum trust saw an inflow of $66 million for the day.

“It feels like spot ETH ETFs were severely underestimated simply because TradFi investors didn’t understand Ethereum,” commented Geraci.

Bitcoin had a “nice clean narrative,” as digital gold, but Ether took more time for investors to understand, he said before adding:

“Now they’re hearing ‘backbone of future financial markets’ and it’s resonating.”

The massive ETF inflow came on the same day that Tom Lee’s Ethereum treasury firm Bitmine announced reaching a milestone of accumulating 1 million ETH.

It also coincided with a surge to an almost four-year high as ETH prices tapped $4,350 on Monday.

Bitcoin ETFs Cooling

Bitcoin spot ETFs are not getting the same love at the moment, with an aggregate inflow of just $178 million on Monday, less than Fidelity’s Ether fund. BlackRock’s IBIT fund accounted for most of this with $138 million in inflows.

Bitcoin funds have seen a four-day consecutive trading inflow streak totalling $950 million as the asset reclaimed $122,000 on Monday.

Nevertheless, BTC has since retreated back to $118,600, which could turn today into an outflow day for spot ETFs.