BlackRock’s fund is in the top 20% of the 3,700+ ETFs accessible in the US market.
Ether funds saw positive net inflows for three of the five trading days last week.
After six weeks of negative withdrawals, spot Ethereum exchange-traded funds based in the US have had their strongest weekly inflows since early August. One of these funds has achieved a historic milestone: a net asset value of more than $1 billion.
After six weeks of net weekly withdrawals, US-based spot ether ETFs saw $58.7 million in inflows on Friday, bringing the funds’ total inflows for the week to about $84.5 million, according to data from SoSoValue.
Remarkable Milestone Achieved
Friday saw $42.5 million inflows to Fidelity’s FETH fund and $11.5 million to BlackRock’s ETHA fund. The larger one-day influx was at Fidelity, but the fund run by BlackRock reached a major milestone after Friday’s inflows: its total net asset value surpassed $1 billion only two months after debut, making it the second such fund to do so, after Grayscale’s Ethereum Mini Trust.
According to Nate Geraci, president of The ETF Store, BlackRock’s fund is in the top 20% of the 3,700+ ETFs accessible in the US market with that amount.
Ether funds saw positive net inflows for three of the five trading days last week, marking their second week of positive inflows since their inception in late July.
There was a net negative outflow for six weeks in a row, with the sole other week of positive inflow being the week of August 9, shortly after the funds debut. The total net asset value of the funds has reached $7.4 billion, the highest level since August 26. At the time of writing, ETH is trading at $2639, down 0.04% in the last 24 hours as per data from CMC.
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