It’s official: BlackRock’s spot Ethereum ETF has crossed the big $1 billion mark, and it’s not even breaking a sweat! U.S.-based Ethereum exchange-traded funds (ETFs) have had their biggest cash shower since early August, ending a six-week streak of “meh” with a whopping $84.5 million in inflows this week. Yup, you heard that right—crypto’s not taking a break!
Friday was the day of glory, led by none other than Fidelity’s FETH fund with a cool $42.5 million in inflows. BlackRock’s ETHA fund followed closely with $11.5 million, and here’s the kicker—BlackRock is now part of the $1 billion club, just two months after launch! Move over, Grayscale’s Ethereum Mini Trust; BlackRock’s taking the spotlight and waving as it slides into the top 20% of the U.S. ETF market. Boom!
And if you’re thinking the fun stops there, think again! Bitwise’s ETHW, Invesco’s QETH, and Grayscale’s ETH all wanted a piece of Friday’s action. But the party’s not for everyone—Franklin’s EZET fund just sat there quietly, sipping its drink without any net inflows or outflows, while Grayscale’s ETHE faced a $10.7 million outflow (ouch).
Overall, with total net assets of $7.4 billion across all ether ETFs, it seems like the big dogs are finally getting excited again. And with Ethereum outperforming Bitcoin thanks to those juicy Federal Reserve rate cuts, the future’s looking pretty optimistic. The blockchain’s on fire, and transaction fees are zooming up with it.
So, if you haven’t checked your ETH bags lately, now might be the time to crack a smile. BlackRock sure is!
Disclaimer:
FOMODigest strives to provide accurate and impartial reporting. The information in this article is for informational purposes only and should not be considered financial or legal advice. Due to the dynamic nature of the market, we encourage readers to conduct their own research and consult professionals before making any financial decisions.
