Crypto: BlackRock’s Ethereum ETF is about to reach $1 billion in inflows
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The iShares Ethereum Trust (ETHA) is on the verge of crossing a major milestone, with cumulative inflows nearing one billion dollars. This significant growth reflects investors’ interest in crypto ETFs.
Impressive Growth of BlackRock’s Crypto ETF
BlackRock’s iShares Ethereum Trust, launched on July 23, 2024, has seen notable growth. According to Farside Investors, the inflows into the crypto ETF have exceeded 901 million dollars. This places BlackRock at the top of the Ethereum ETF market, ahead of competitors such as Fidelity Investments, Bitwise, Grayscale Investments, and VanEck.
Since its launch, ETHA has enabled investors to trade ether via traditional brokerage accounts. This ease of transaction meets a growing demand for direct exposure to ETH. It also allows investors to avoid the hassle of high trading costs and complex tax reporting.
Although ETHA seems to be a hit with investors, this rapid accumulation of inflows has not been without challenges. The crypto ETF has experienced days with little or no revenue.
However, BlackRock’s influence as a major asset manager has likely contributed to the significant influx of capital. Currently, ETHA holds 293,938 shares, with a total valuation of 761,954,433 dollars.
