Ethereum ETFs surpass $5 billion in net flows, BlackRock’s ETHA record 6th highest inflow week

Ethereum ETFs took 12 trading days to capture over $1 billion in inflows, beating the previous billion mark by three trading sessions.

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Spot Ethereum exchange-traded funds (ETFs) surpassed $5 billion in net inflows on July 11, just 12 trading days after crossing the $4 billion mark, according to Farside Investors data. 

The milestone reflects a faster pace than the previous interval, when the products required 15 trading sessions to add the prior $1 billion. BlackRock’s iShares Ethereum Trust (ETHA) contributed a large portion of the most recent inflows. 

Bloomberg senior ETF analyst Eric Balchunas noted that ETHA recorded $675 million in weekly net subscriptions, placing it sixth across all US ETFs for the period ending July 11.

He framed ETHA’s weekly haul as a significant moment, noting on July 12 that the vehicle is “hanging with the big dogs for the first time.” 

The fund closed the week ahead of traditional equity and bond vehicles despite operating in the shadow of larger Bitcoin products. BlackRock’s Bitcoin ETF, IBIT, absorbed $1.7 billion over the same span.

$1 billion added in 12 sessions

Ethereum ETFs launched on July 23, 2024, and crossed $4 billion in cumulative flows on June 23, achieving this milestone in 231 trading days. 

The first $3 billion required 216 sessions. By contrast, the jump from $4 billion to $5 billion occurred in just over two weeks of trading, including five consecutive days with total inflows exceeding $200 million.

Aggregate daily data from July show that ETHA alone drew $300.9 million on July 10, followed by $158.6 million on July 9 and $137.1 million on July 11. 

Other issuers such as Fidelity (FETH) and Bitwise (ETHW) posted consistent additions, while Grayscale’s legacy ETHE product saw redemptions.

Due to the recent additions, spot Ethereum ETFs now represent over 10% of the total inflows of Bitcoin ETFs traded in the US.

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