The latest crypto news talks about the Ethereum spot ETF by BlackRock that has surpassed 1 billion dollars in net asset value. This is the second fund of this type to reach such a value, a significant milestone achieved just two months after its launch. 

Ethereum ETF news and BlackRock’s milestone: surpassed one billion dollars in asset value

According to what reported, it seems that last week ended with a novelty in the field of Ethereum spot ETFs: the BlackRock fund has surpassed one billion dollars in net asset value.

In practice, it seems that the weekly inflows of Ethereum-based ETFs based in the USA are reversing their trend, recording significant increases. 

Specifically, it seems that last Friday the inflows were led by the FETH fund from Fidelity, with 42.5 million dollars, followed by the ETHA fund from BlackRock, which recorded inflows of 11.5 million dollars. 

Despite Fidelity having recorded the largest daily inflow, BlackRock’s fund reached a significant milestone after Friday’s inflows: a total net asset value of over 1 billion dollars just two months after launch. 

BlackRock is the second fund of this type to reach such a value, after Grayscale’s Ethereum Mini Trust. 

In any case, last Friday they also recorded inflows for Bitwise’s ETHW with 5.4 million dollars, Invesco’s QETH with 4.3 million dollars, Grayscale’s ETH with 2.3 million dollars, VanEck’s ETHV with 2.0 million dollars, and 21Shares’ CETH with 1.4 million dollars. 

EZET by Franklin did not record any net inflow or outflow, while ETHE by Grayscale saw outflows of 10.7 million dollars. 

ETF on Ethereum news: first week of inflows and BlackRock’s milestone

As anticipated, the spot Ethereum ETFs in the USA finally seem to be changing trend. 

In fact, it seems that the total inflows of spot Ethereum ETFs recorded last week were about 84.5 million dollars. 

A result that had not been seen since last August. In fact, this overall result remedies the six consecutive weeks of outflows recorded by the spot Ethereum ETFs in the USA. 

In any case, the milestone of BlackRock was reached just two months after its launch. Nate Geraci, President of The ETF Store, wanted to highlight how this value places the BlackRock fund in the 20% of the over 3,700 ETFs available on the US market. 

iShares Ethereum ETF eclipses $1bil in assets…

Now in top 20% of all 3,700+ ETFs.

Did this is 2 months. pic.twitter.com/iRWaxkjZxl

— Nate Geraci (@NateGeraci) September 28, 2024

“The iShares Ethereum ETF surpasses 1 billion dollars in assets… Now in the top 20% of all over 3,700 ETFs. All this in 2 months.”

Price of ETH

While the ETF situation on Ethereum spot in the USA seems to be heating up, the price of the crypto ETH is not reflecting the same situation. 

At the time of writing, ETH is worth $2636, still far from the $3000 and beyond, of early August. 

Indeed, from the second week of August, let’s say that the $3000 mark has not been touched again by the smart contract crypto par excellence. Compared to the performance of Bitcoin over the last two months, Ethereum seems to underperform. 

In this regard, recently, a new forecast has been released for the price of Ethereum, indicating that this trend could reverse, once again outperforming Bitcoin. From what has emerged, the price of Ethereum (ETH) could reach $10,000 in 2025.