US-based spot Ethereum exchange-traded funds (ETFs) marked a key milestone as BlackRock’s ETHA fund surpassed $1 billion in net asset value for the first time, following a period of net positive inflows.
According to data from SoSoValue, US spot ether ETFs saw a total of $84.5 million in inflows last week, breaking a six-week streak of negative outflows. On Friday alone, $58.7 million worth of inflows was recorded, with Fidelity’s FETH fund leading the day with $42.5 million. BlackRock’s ETHA fund, though logging $11.5 million in inflows, achieved the remarkable milestone of surpassing $1 billion in value, just two months after its launch.
This achievement places BlackRock’s Ethereum fund among the top 20% of ETFs in the US market. Other funds, including Bitwise, Invesco, and Grayscale, also saw inflows last week, contributing to the highest total net asset value for Ethereum ETFs since August 26.
Ethereum’s recent outperformance against Bitcoin, alongside surging blockchain activity, suggests renewed investor optimism, boosted by the Federal Reserve’s rate cut.