BlackRock’s ETH ETF Tops 2M ETH, Sees $900M Inflows
Spot Ethereum ETFs recorded a record $908 million in net inflows last week, marking a ninth consecutive week of growth. Assets under management have reached $13.5 billion, or 3.8% of ETH’s market cap. BlackRock’s iShares Ethereum Trust (ETHA) led with $675 million in inflows and has surpassed 2 million ETH in holdings, about 1.65% of the circulating supply. Fidelity’s ETF and Grayscale’s funds added $87 million, $73 million and $37 million respectively. Bitwise, VanEck, 21Shares and Franklin Templeton saw moderate inflows, while Invesco’s QETH saw outflows. ETHA’s NAV rose to $22.80 by Friday, up 17% from Monday’s $19.36, as trading volume surged and ETH approached $3,000. The shift of Ethereum ETF vehicles is tightening liquidity and underlining the growing role of Ethereum ETFs in market dynamics. Over 70 altcoin ETF applications, including for SOL, DOGE and XRP, are pending SEC review, highlighting broader institutional interest.
Bullish
The record inflows into Ethereum ETFs, led by BlackRock’s ETHA surpassing 2 million ETH holdings, reflect strong institutional demand and reduced ETH availability in the open market. Short-term, this has supported price gains, with ETHA’s NAV up 17% and ETH trading near $3,000. Long-term, sustained ETF adoption could tighten on-chain liquidity, increasing price stability and potentially driving further upside as more capital channels through regulated vehicles. Pending altcoin ETF approvals also signal broader institutional interest, underpinning a bullish outlook for Ethereum.