Ethereum

Billion

BlackRock

<ul>
 <li><strong>BlackRock’s iShares Ethereum Trust (ETHA) is on the cusp of reaching $1 billion in cumulative inflows.</strong></li>
 <li><strong>This underscores the growing institutional interest in crypto ETFs.</strong></li>
</ul>
<p data-sourcepos="12:1-12:74">BlackRock’s iShares <a href="https://www.ethnews.com/will-ethereum-crash-whale-moves-154-million-eth-to-exchange/" rel="noopener noreferrer nofollow">Ethereum</a> Trust (ETHA), launched just on July 23, 2024, has already experienced remarkable growth. According to Farside Investors, inflows into the crypto ETF have surpassed $901 million. This positions BlackRock as a frontrunner in the Ethereum ETF market, ahead of competitors like Fidelity Investments, Bitwise, Grayscale Investments, and VanEck.</p>
<p data-sourcepos="14:1-14:281">ETHA allows investors to trade <a href="https://www.ethnews.com/xrp-ethereum-or-new-altcoins-expert-named-crypto-that-will-lead-massive-august-rebound/" rel="noopener noreferrer nofollow">Ether</a> through traditional brokerage accounts, significantly simplifying access to this cryptocurrency. This approach caters to the increasing demand for direct exposure to ETH while offering benefits like lower trading costs and easier tax reporting.</p>
<p data-sourcepos="16:1-16:165">While ETHA is clearly resonating with investors, this rapid accumulation of inflows hasn’t been without its challenges. The crypto ETF has also <a href="https://www.ethnews.com/ethereums-secret-signal-are-massive-gains-just-around-the-corner/" rel="noopener noreferrer nofollow">seen</a> days with low or even no inflows. However, BlackRock’s influence as a major asset manager has likely played a crucial role in driving the substantial capital influx. Currently, ETHA holds 293,938 shares with a total value of $761,954,433.</p>
<h2 data-sourcepos="18:1-18:36" id="ether-price-shows-muted-response">Ether Price Shows Muted Response</h2>
<p data-sourcepos="20:1-20:267">Despite the excitement surrounding BlackRock’s <a href="https://www.ethnews.com/ethereum-users-rejoice-over-low-fees-but-at-what-cost-to-the-network/" rel="noopener noreferrer nofollow">Ethereum</a> ETF, the price of Ether hasn’t immediately mirrored this enthusiasm. After reaching a high of over $3,400, the crypto asset’s price dropped to around $2,800. This decline is partly attributed to profit-taking by institutional investors.</p>
<p data-sourcepos="22:1-22:260">Nevertheless, <a href="https://www.ethnews.com/solana-sol-outperforming-ethereum-eth-overshadowed-by-crypto-price-chaos-rollblock-rblk-early-revellers-up-100/" rel="noopener noreferrer nofollow">ETH</a> is showing signs of recovery, with a slight 1.15% increase in the last 24 hours to $2,681. The altcoin’s trading volume also surged by 66.29%, indicating renewed investor interest. This momentum could impact the ETH market in the medium term.</p>
<p data-sourcepos="24:1-24:273">BlackRock’s iShares <a href="https://www.ethnews.com/ethereum-eth-plummets-15-in-just-five-minutes-why-this-is-good-news-for-these-5-ethereum-based-cryptos/" rel="noopener noreferrer nofollow">Ethereum</a> Trust represents a significant milestone in the evolution of spot Ethereum ETFs. While the crypto ETF is experiencing rapid growth, the fluctuations in Ether’s price serve as a reminder of the inherent volatility in the cryptocurrency markets.</p>
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<p>The post <a href="https://www.ethnews.com/blackrocks-ethereum-etf-nears-1-billion-milestone/" rel="noopener noreferrer nofollow">BlackRock’s Ethereum ETF Nears $1 Billion Milestone</a> appeared first on <a href="https://www.ethnews.com" rel="noopener noreferrer nofollow">ETHNews</a>.</p>

BlackRock’s Ethereum ETF Nears $1 Billion Milestone

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