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.
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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.
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Notably, all of this success has been achieved without the spot Ether ETF issuers offering staking returns and options trading.
Source: X
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.
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“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.
Spot Ether ETF flows since Aug. 1. Source: Farside Investors
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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Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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