BlackRock's Ethereum ETF on track to hit $1 billion in net inflows

BlackRock’s ethereum exchange-traded fund (ETF), the iShares ethereum Trust, could become the first U.S. spot ethereum fund to hit $1 billion in net inflows. The ETF, which trades under the ticker symbol ETHA, has recorded around $901 million in net capital just three weeks after its launch and is on track to achieve the milestone, according to Farside Investors. eth/” target=”_blank” rel=”noopener nofollow noreferrer”>data sample.

Nate Geraci, president of The ETF Store, is confident that ETHA will hit $1 billion in inflows this week, adding that it is one of the six most successful ETF launches of the year.

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The iShares ethereum ETF has raised over $900 million in less than 3 weeks…

We're almost certain to hit $1 billion this week, in my opinion.

As mentioned above, ETHA is already in the top 6 launches of 2024 (4 of the other 5 are spot btc ETFs).

– Nate Geraci (@NateGeraci) twitter.com/NateGeraci/status/1822787125957312917?ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow noopener noreferrer”>August 12, 2024

BlackRock’s fund offering direct exposure to bitcoin (btc), the iShares bitcoin Trust or IBIT, was the first spot bitcoin ETF to hit $1 billion in inflows. Thanks to massive and consistent inflows, it took just four days for the ETF to surpass the mark.

BlackRock ETF data indicates a slower accumulation rate for ethereum compared to bitcoin. Demand for ethereum ETFs, while growing, has not yet reached the level of interest seen in bitcoin ETFs. However, it is not entirely unexpected.

Martin Leinweber, director of digital asset research and strategy at MarketVector Indexes, previously said that More modest entries are expected in ethereum ETFs compared to the substantial inflows seen with bitcoin ETFs, which have attracted billions in a short time.

Eric Balchunas, Bloomberg’s popular ETF analyst, estimated that demand for spot ethereum ETFs could be around 15% to 20% of that seen for bitcoin ETFs. His projection came after the historic approval of these products in May.