BlackRock, a well-known issuer of Bitcoin and Ethereum ETFs, has reported significant growth in the assets of its Ethereum ETF in July.
Accelerated Growth of BlackRock's Assets
According to Sentora, the iShares Ethereum Trust ($ETHA) of BlackRock has seen its assets under management grow by over $7 billion in July, marking a more than 200% increase in one month.
Institutional Interest in Ethereum ETF
As of July 31, the cumulative net assets of $ETHA stood at $11.37 billion, reflecting a significant net inflow of $9.74 billion, indicating strong institutional appetite for the Ethereum ETF.
Impact of BlackRock on the Crypto Market
The trading activity of $ETHA has seen notable increases, with daily volumes reaching $32.7 million. The overall trading value climbed to $936.21 million on the last day of July, signaling BlackRock's growing influence in the crypto market.
The asset growth of BlackRock in its Ethereum ETF highlights the rising interest of institutional investors in cryptocurrencies and may foster increased participation from traditional financial entities in the sector.
