- Impressive Inflows in the Initial Weeks
- Prospects and Competition with Other Funds
- SEC Approval Timeline for Ethereum ETF Options
Blackrock's iShares Ether ETF attracted over $1 billion in assets within two months of its launch, despite volatile cryptocurrency prices.
Impressive Inflows in the Initial Weeks
Nate Geraci, president of the ETF Store and host of ETFPrime, confirmed that Blackrock's iShares Ether ETF had amassed over $1 billion in assets in two months. He commented, "iShares Ethereum ETF eclipses $1 billion in assets... Now in top 20% of all 3,700+ ETFs." In the first 11 trading days after its launch, the fund received substantial inflows, totalling over $869.8 million. On a single day, June 30, the iShares ETF garnered $117.9 million, and on August 6, $109.9 million, positioning it among the top six best-performing ETFs in 2024.
Prospects and Competition with Other Funds
As of September 16, 2024, the iShares ETF held approximately $992 million in assets, more than double the Fidelity Ethereum fund, which had only $382 million at that time. Nate Geraci noted that despite the market downturn, the cumulative flows into the ETHA fund on August 5 and 6 alone placed it in the top 10% of ETFs launched in 2024.
SEC Approval Timeline for Ethereum ETF Options
On September 24, the U.S. Securities and Exchange Commission (SEC) detailed its postponement for approval and listing of options on iShares Ether and Biwise ETFs to November 10, due to Nasdaq's proposed rule change to approve listing and trading options for Ethereum ETFs. Previously, the regulator had already approved and listed options trading on BlackRock’s spot Bitcoin ETF (IBIT) on September 20, marking the first of its kind.
Blackrock's iShares Ether ETF has shown significant success, accumulating over $1 billion in assets in just two months. Given the current data and competition with other funds, the ETF is expected to continue its steady growth, despite bureaucratic delays in options listing.
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