BlackRock Spot Ethereum ETF Surpasses $1 Billion in Net Asset Value Amid Record Inflows

BlackRock spot Ethereum ETF hit a major milestone, surpassing $1 billion in net asset value after leading a week of strong inflows, totaling $84.5 million across US-based ether ETFs.

BlackRock’s spot Ethereum (ETH) exchange-traded fund (ETF) reached a significant milestone, surpassing $1 billion in net asset value for the first time since its launch. This achievement highlights a renewed wave of investor interest in Ethereum-based financial products. After six consecutive weeks of net outflows, US-based ether ETFs saw positive inflows, logging their highest weekly totals since early August.

A Record-Breaking Week for Ethereum ETFs

According to data from SoSoValue, spot Ethereum ETFs in the United States recorded $58.7 million in inflows on Friday alone. This surge led to a total of $84.5 million in net inflows for the week, marking the first positive week for ether ETFs after a challenging six-week streak of negative outflows.

Among the ETFs leading the charge was Fidelity’s FETH fund, which posted a single-day inflow of $42.5 million on Friday. Meanwhile, BlackRock’s ETHA fund followed closely with $11.5 million in inflows, propelling its net asset value beyond the $1 billion mark. This milestone places BlackRock’s fund among the top 20% of the over 3,700 ETFs currently trading on the US market, according to The ETF Store president, Nate Geraci.

Other Major Players in the Market

Several other ether ETFs also logged inflows last week, reflecting a broader trend of renewed interest in Ethereum products. Bitwise’s ETHW fund recorded $5.4 million in inflows, followed by Invesco’s QETH at $4.3 million. Grayscale’s Ethereum Mini Trust added $2.3 million, while VanEck’s ETHV and 21Shares’ CETH saw $2 million and $1.4 million, respectively.

In contrast, Grayscale’s ETHE fund experienced outflows of $10.7 million, signaling a divergence among investor sentiment within the Ethereum ETF space.

Ether Outperforming Bitcoin

This recent uptick in Ethereum ETF inflows aligns with the overall performance of ether, which has outpaced bitcoin in recent weeks. Following the Federal Reserve’s recent interest rate cut, futures traders are signaling renewed optimism in Ethereum. Transaction fees on the Ethereum network have also surged due to an increase in blockchain activity, further driving investor confidence.

As of now, US-based spot Ethereum ETFs hold a collective $7.4 billion in net asset value, the highest recorded since late August. With transaction fees climbing and investor sentiment growing more positive, the spotlight remains firmly on Ethereum’s potential for continued growth.

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