Ethereum ETF from BlackRock Sees $900 Million Inflows, Reflecting Strong Investor Interest

The launch of the BlackRock Ethereum (ETH) ETF didn’t quite generate the same level of excitement as Bitcoin’s ETF debut earlier in the year, which drove Bitcoin to new record highs. Despite this, the ETH ETF market is showing signs of growth, with BlackRock’s iShares Ethereum Trust (ETHA) attracting nearly $900 million in investments within just 11 days of trading.

ETH’s performance, however, has been relatively stagnant, with only a marginal 0.4% increase in the last 24 hours. Over the week, ETH has seen a decline of 22.7%, a 26.4% drop in the past 14 days, and a 13.5% decrease over the previous month.

Early data from Farside Investors indicates that ETHA experienced inflows of $109.9 million on August 6, possibly spurred by a price drop to $2197 on August 5. Nate Geraci, president of The ETF Store, noted that BlackRock’s Ethereum trust ranks among the top six best-performing ETFs launched this year, with the inflows on August 5 and 6 propelling ETHA into the top 10% of new ETFs this year.

The inflow of funds into ETH ETFs could have a positive impact on the asset’s price. On August 6, spot ETH ETFs received $98.4 million in investments, while Grayscale and Fidelity’s spot ETH ETFs saw inflows of $4.7 million and $22.5 million, respectively.

Looking ahead, experts at CoinCodex predict that Ethereum will likely trade within the $2500 to $2600 range at least until early September. Conversely, Changelly offers a more cautious outlook, forecasting that ETH will fluctuate between $2400 and $2500 for the remainder of the month.