- Success of Ethereum ETFs Over the Past Week
- Significant Data and Expert Comments
- Market Impact and Future Prospects
BlackRock's Ethereum ETF has reached a net asset value of $1 billion just two months after its launch, marking a significant milestone for the company.
Success of Ethereum ETFs Over the Past Week
The achievement came as U.S.-based spot Ethereum ETFs posted their highest weekly inflows since early August, reversing a six-week streak of negative outflows. According to data from SoSoValue, U.S.-based spot ETH ETFs saw inflows of $58.7 million on Friday, contributing to a total of $84.5 million in net positive inflows for the week. This was the first week of positive inflows since early August. Fidelity’s FETH fund led the way on Friday with $42.5 million, however, BlackRock’s ETHA fund made headlines by surpassing $1 billion in net asset value.
Significant Data and Expert Comments
Nate Geraci, President of The ETF Store, highlighted the significance of this achievement, noting that BlackRock’s ETHA fund currently ranks in the top 20% of more than 3,700 ETFs in the U.S. market.
Market Impact and Future Prospects
Other ETFs also saw notable inflows on Friday, with Bitwise’s ETHW seeing $5.4 million, Invesco’s QETH $4.3 million, Grayscale’s ETH $2.3 million, VanEck’s ETHV $2 million and 21Shares’ CETH $1.4 million. Meanwhile, Franklin’s EZET fund saw no net inflows or outflows, while Grayscale’s ETHE fund saw $10.7 million in outflows. The recent surge in inflows resulted in three out of five trading days last week resulting in positive net inflows for ETH funds. The funds currently have a combined net asset value of $7.4 billion, the highest since August 26. This surge in value comes as Ethereum’s price has been outperforming Bitcoin following the recent Fed rate cut, along with a significant increase in transaction fees caused by increased blockchain activity, and renewed optimism about Ethereum among futures traders.
These achievements highlight significant successes in the Ethereum ETF market and indicate positive trends and further development.
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