BlackRock’s ETHA ETF Sees Massive Inflows Despite Market Volatility
BlackRock, a prominent asset manager, has continued to defy expectations by attracting significant inflows into its spot Ethereum ETF, ETHA.
The ETHA ETF experienced daily inflows of $108.4 million on August 6, amidst a period where the value of Ethereum plummeted by approximately 25%.
- The fund received an additional $47 million on “crypto black Monday,” bringing the total inflows to roughly $868 million within just two weeks.
“That $160 million alone would place it in the top 10% of all new ETFs launched this year,” remarked ETF Store President Nate Geraci in a post on X on August 7.
No Demand? Think Again!
Geraci’s post titled “No Demand” highlighted that the BlackRock ETHA fund now ranks among the top six ETF launches of the year in terms of inflows.
The momentum continued, with ETHA nearing $900 million in inflows after just two weeks.
BlackRock’s recent influx of $98.4 million signifies another positive day for ETH ETFs as institutional investors take advantage of the market dip.
Bloomberg senior ETF analyst Eric Balchunas expressed his amazement with a simple, “Maniacs.”
Despite some outflows from other funds like Grayscale’s ETHE, BlackRock’s ETHA ETF remains a popular choice among investors.
While the spot Ethereum price has stabilized around $2,500 following a significant drop, interest in ETH-related investments is still strong.
Spot ETH ETF Options
On August 6, both BlackRock and Nasdaq filed a proposal for a rule change to introduce options trading for BlackRock’s spot Ethereum ETF.
Options trading allows investors to buy or sell the ETF at a predetermined price by a specific date, providing a flexible investment tool.
“The exchange believes that offering options on the Trust will benefit investors by providing them with an additional, relatively lower cost investing tool to gain exposure to spot Ether,” the filing stated.
In another positive development, the SEC approved Ethereum ETFs from industry giants like BlackRock, Fidelity, and Franklin Templeton, indicating Ethereum’s increasing acceptance in mainstream finance.
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