BlackRock clients purchase $38M worth of Ethereum through spot ETF

BlackRock’s institutional clients poured $38.15 million into Ethereum on July 20, routing their exposure through the regulated ETF wrapper rather than buying the token directly. The bulk of the capital, roughly $34.3 million, landed in BlackRock’s iShares Ethereum Trust (ETHA). Fidelity’s spot Ethereum product, FETH, picked up an additional $2.8 million. Together, US spot Ethereum ETFs posted approximately $38 million in net inflows for the session, according to data tracked by Farside Investors and SoSoValue. ETHA keeps winning the daily flow race ETHA has led Ethereum ETF inflows across multiple recent sessions, consistently pulling in more capital than its competitors on days when the complex sees positive flows. That pattern mirrors what happened with Bitcoin ETFs after their launch. BlackRock’s iShares Bitcoin Trust (IBIT) quickly became the default vehicle for institutional Bitcoin exposure, and ETHA appears to be following a similar playbook on the Ethereum side. The $34.3 million that flowed into ETHA on this single day represented about 90% of total Ethereum ETF inflows. Fidelity’s FETH grabbed most of what remained. Why ETFs, not tokens The preference for ETF wrappers ove...