BlackRock’s ETHA ETF Surges Past $10 Billion Milestone

Cryptocurrency Fund Joins Record Holders Amid Market Boom

Data provided by ETF analytics firm S3 Partners reveals that BlackRock’s iShares Ethereum ETF (ETHA) has rapidly accumulated $10 billion in assets since its inception, cementing its position as one of the most successful ETFs in history.

Third-Fastest Record Broken

According to analyst Eric Balchunas of S3 Partners, ETHA breached the $10 billion threshold in a mere 251 days. This stellar performance established it as the third-fastest ETF to ever reach this significant asset mark.

“Incredibly, it went from $5 billion to $10 billion in just 10 days,” noted Balchunas, drawing an analogy only indirectly. The surge signifies phenomenal growth velocity.

Notably, ETHA is now positioned as one of the top three globally fastest-growing ETFs, with all three record holders being spot cryptocurrency products.

Only two other fund categories surpassed ETHA’s speed: Competition remains fierce, yet the crypto space clearly demonstrates extraordinary growth potential.

ETHA Outpaces JPMorgan’s Offering

The iShares Ethereum ETF’s swiftness in achieving this milestone contrasted sharply with veteran fund JPMorgan Nasdaq Equity Premium Income ETF (JEPQ). The JPMorgan ETF took 444 days to reach $10 billion, trailing significantly behind ETHA.

Bitcoin Dominance Still Seen

Regardless of ETHA’s remarkable pace, BlackRock’s premier Bitcoin offering continues to lead the pack. Launched in early 2024, the iShares Bitcoin Trust (IBIT) shattered records by reaching $10 billion in under 35 days.

Fellow competitor Fidelity Investments’ FBTC Fund followed as the second-fastest, achieving the billion-dollar mark in under two months. These Bitcoin record holds arguably remain the most successful within the broader cryptocurrency ETF category.

Funding Trend Shifts in July

Analysis from finance data provider SoSoValue highlights a stark divergence in investor trends. While Bitcoin ETF inflows appear to be tapering off after an extended streak, Ether funds are experiencing another robust wave of investor capital.

Record Ether ETF inflows hit $4.4 billion during a recent 14-day stretch, including a valuation day with over $726 million poured into ETHA products. Assets in specific ETHA products like ETHB saw triple-digit percentage increases recently.

Conversely, Bitcoin ETF flows reversed direction definitively. After a 12-day inflow period, overall US spot Bitcoin ETF assets reversed course, seeing nearly $300 million in three consecutive trading sessions.