BlackRock Ethereum ETF Approaches 3 Million ETH Milestone, Challenges Vanguard In Inflows

BlackRock Ethereum ETF (ETHA) dominated net inflows across all US issuers on Friday, scooping another 120,437 ETH worth $430 million on Friday. With this, the net ETH holdings of iShares Ethereum Trust (ETHA) are approaching a massive 3 million. With $1.8 billion in weekly inflows, BlackRock stood second after Vanguard’s S&P 500 ETF, in net inflows.

BlackRock Ethereum ETF Accumulated 1.2 Million in July So far

BlackRock iShares Ethereum Trust (ETHA) has been hitting milestones one after the other, crossing $10 billion in assets under management (AUM) earlier this week. Following Friday’s purchase of over 100K ETH, ETHA’s Ethereum holdings now stand at 2,924,663. If weekly inflows stand close to $1.8 billion, just under Vanguard S&P 500 ETF (VOO) at $2.2 billion.

BlackRock Ethereum ETF has acquired a massive 1.2 million in ETH so far in July. If this pace continues, it could soon cross the 3 million ETH milestone next week. On Friday, the ETHA share recorded trading volume of $1.1 billion, with its price flirting around $28.

BlackRock has been racing up with some of the top ETH treasury companies like Sharplink Gaming and Bitmine Technologies in ETH accumulation.

Spot Ether ETF Inflows Outperform Bitcoin ETFs

Ethereum spot ETFs have recorded net inflows for 16 consecutive trading days, marking a major milestone for the newly launched products. At $453 million, Friday ranked as the fourth-highest daily inflow since their inception.

During this streak, spot Ethereum ETFs have attracted nearly $5 billion in net new capital. Notably, they have outperformed spot Bitcoin ETFs in net inflows for seven straight sessions. On Friday alone, ETH ETFs saw net inflows of approximately 123,867 ETH, worth $452.9 million, nearly 48 times of the net ETH issued. The BlackRock Ethereum ETF dominates most of the inflows.

Total weekly net inflows into ETH ETFs now stand at $1.8 billion, compared to just $71 million for Bitcoin ETFs over the same period. This clearly highlights the institutional shift from BTC to ETH.

The ETH price has also outperformed Bitcoin this month in July. Since the beginning of this month, the ETH is up 53%, while BTC is up 9% during the same period. Our ETH price prediction indicator shows that ETH should be trading above $4,200 in the next month.

Bhushan Akolkar

Bhushan is a seasoned crypto writer with over eight years of experience spanning more than 10,000 contributions across multiple platforms like CoinGape, CoinSpeaker, Bitcoinist, Crypto News Flash, and others. Being a Fintech enthusiast, he loves reporting across Crypto, Blockchain, DeFi, Global Macros with a keen understanding in financial markets. 

He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.

Bhushan has a bachelors degree in electronics engineering, however, his interest in finance and economics drives him to crypto and blockchain.

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