BlackRock’s spot Ether ETF received $109.9 million in new investments on August 6. Since its launch on July 23, the total investments in the fund have reached $869.8 million.
Farside Investors reported that August 6 was the third biggest day for inflows into the iShares Ethereum Trust. Investors took advantage of Ether’s 18% price drop to $2,520 on August 5.
BlackRock’s Spot Ether ETF Performance in 2024
The $870 million in inflows places BlackRock’s spot Ether ETF among the top six best-performing ETFs launched in 2024, according to Nate Geraci, President of The ETF Store. Four of the other top performers are spot Bitcoin ETFs, including BlackRock’s IBIT.
BlackRock’s ETHA attracted $47.1 million on the crypto industry’s “Black Monday,” a day when over $600 million in leveraged long positions were wiped out. Despite the massive market fall, the combined inflows for ETHA on August 5 and 6 alone put it in the top 10% of ETFs launched in 2024, Geraci noted.
Notably, all of this success has been achieved without the spot Ether ETF issuers offering staking returns and options trading.
On August 6, spot Ether ETFs saw a combined inflow of $98.4 million, marking their best day since the launch on July 23.
Performance of Other Spot Ethereum ETFs and Market Trends
On August 6, Fidelity’s spot Ethereum ETF saw the second-largest inflow with $22.5 million. The Grayscale Ethereum Mini Trust and Franklin Ethereum ETF followed with $4.7 million and $1 million in inflows, respectively.
“TradFi slurping up that ETH,” commented Anthony Sassano, host of the Ethereum show The Daily Gwei.
In contrast, Grayscale’s higher fee Ethereum product, ETHE, experienced an outflow of $39.7 million.
Despite ETHA’s strong start, spot Ether ETFs have seen a combined $473.9 million in outflows when considering the $2.2 billion that has left Grayscale’s ETHE.
Ether has partially recovered from its low of $2,197 on August 5, rising 13.5% to $2,494, according to CoinGecko data.
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