BlackRock’s iShares Ethereum Trust (ETHA), the first spot ether exchange-traded fund (ETF) to launch in the United States, has surpassed the $1 billion mark in net inflows. This milestone makes ETHA the top-performing ether ETF in terms of net inflows, outpacing its rivals by a significant margin.
According to SoSoValue data, ETHA has attracted over $860 million in net assets, surpassing even Grayscale’s mini ether trust (ETH) and Ethereum trust (ETHE) in terms of net inflows. Notably, ETHA’s net inflows exceed the combined total of the next three highest-performing ether ETFs.
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Fidelity’s FETH has garnered $367 million in net inflows since its launch on July 23, followed by Bitwise’s ETHW with $310 million and Grayscale’s ETH with $227 million. The remaining ether ETFs have recorded less than $60 million in net inflows.
In contrast, Grayscale’s ETHE, which was converted from an institutional-only trust product, has experienced significant net outflows, totaling $2.7 billion since its launch. This highlights the preference for spot ether ETFs among investors.
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Overall, the various ether ETFs have underperformed their bitcoin counterparts in terms of net inflows. While spot bitcoin ETFs saw daily net inflows of approximately $125 million in their first month, accumulating over $11 billion worth of bitcoin, the ether ETFs have collectively recorded net outflows of over $440 million. This suggests that investors may be more cautious about investing in ether ETFs compared to bitcoin ETFs.
The strong performance of BlackRock’s ETHA underscores the growing investor interest in ether and the potential for spot ether ETFs to become a significant force in the cryptocurrency market. As more investors seek exposure to ether through traditional investment vehicles, the demand for ether ETFs is likely to continue to rise.
