Ethereum ETFs Smash $10B Barrier as Wall Street Goes Crypto-Crazy

Institutional money floods ETH funds—traders ditch gold for digital.

Wall Street's New Darling

BlackRock and Fidelity's Ethereum ETF arms race hits warp speed as assets balloon past the $10 billion mark. Pension funds and hedge funds—once crypto-skeptics—now pile in like it's 1999.

The Fine Print

Fees still bleed investors dry (some things never change), but who cares when ETH's up 300% since the SEC caved? The 'safe' play suddenly looks riskier than holding bags of fiat.

Legacy finance finally admits what degens knew years ago: the future's on-chain. Whether they understand it? That's another story.

TLDR

• BlackRock’s Ethereum ETF (ETHA) reached $10 billion in assets in just 251 trading days, making it the third-fastest ETF in US history to hit this milestone
• Ethereum ETFs recorded $2.4 billion in net inflows over six trading days, outpacing Bitcoin ETFs which saw only $827 million during the same period
• ETHA captured nearly 75% of total Ethereum ETF inflows, with $1.79 billion flowing into the fund during the six-day streak
• Corporate buyers like BitMine Immersion Technologies purchased $2 billion worth of ETH in 16 days, becoming the largest corporate ETH holder
• Bitcoin ETFs broke their 12-day inflow streak on Monday with a $131 million net outflow, ending a run that brought in $6.6 billion

BlackRock’s iShares ethereum ETF has reached a major milestone, crossing $10 billion in assets under management just over one year after launch. The achievement makes ETHA the third-fastest ETF in US history to reach this threshold.

The fund accomplished this feat in 251 trading days, trailing only two Bitcoin ETFs in speed to the $10 billion mark. ETHA doubled from $5 billion to $10 billion in just 10 days, according to Bloomberg ETF analyst Eric Balchunas.

This rapid growth comes as Ethereum ETFs have outpaced their Bitcoin counterparts for six straight trading days. Spot Ethereum ETFs recorded nearly $2.4 billion in net inflows during this period, while Bitcoin ETFs saw only $827 million in the same timeframe.

ETHA captured the largest share of these inflows, pulling in $1.79 billion over the six-day period. This represents nearly 75% of all Ethereum ETF inflows during that stretch.

Fidelity’s Ethereum Fund also posted strong numbers, recording its best single day on Thursday with $210 million in net inflows. This beat the fund’s previous record of $202 million set on December 10, 2024.

Corporate Buyers Drive Demand

Corporate interest in Ethereum has accelerated in recent weeks. BitMine Immersion Technologies purchased $2 billion worth of ETH over 16 days, making it the largest corporate holder of the cryptocurrency.

Companies now hold 2.31 million ETH in their treasuries, representing 1.91% of Ethereum’s circulating supply according to Strategic Ether Reserves. This institutional accumulation has created supply pressure in the market.

Galaxy Digital CEO Michael Novogratz predicted ETH could reach $4,000, citing large corporate purchases as a potential catalyst for a supply shock. He expects Ethereum to outperform bitcoin over the next six months.

ETHA launched in early 2024 following SEC approval alongside seven other spot Ethereum ETFs. BlackRock filed for the product in November 2023 and selected Coinbase Prime as custodian.

Bitcoin ETFs Face Headwinds

The momentum shift comes as Bitcoin ETFs hit a roadblock. Spot Bitcoin ETFs ended a 12-day inflow streak on Monday with a $131 million net outflow, breaking a run that had brought in $6.6 billion.

Swissblock research expects this rotation to continue, stating that “ETH is rotating into leadership as the next leg of the cycle unfolds.” On July 17, Ethereum ETFs recorded $602 million in net inflows compared to $523 million for Bitcoin ETFs.

BlackRock has applied to allow staking in ETHA, which WOULD enable the fund to generate yield from locked Ethereum holdings. An earlier SEC decision clarified that staking rewards count as income rather than securities, clearing a path for potential approval.

The ETF charges a 0.25% sponsor fee and tracks Ethereum’s market price minus expenses and liabilities. Ethereum ETFs have generated $4.7 billion in monthly inflows according to SoSoValue data, with ETHA leading in both volume and growth rate.