Despite a significant spill from Grayscale's Ethereum Trust (Ethe), the first wave of US list spot Ethereum Exchange-Traded Funds (ETFS) won net inflows of nearly $8.7 million in its first year in the market, according to public data compiled since it launched on July 23, 2024.
Its performance is modest compared to its Bitcoin counterparts, but arrives with a surge in investor activity and price momentum. In the last two weeks alone, ETFs have resulted in over $4.6 billion (nearly half of the total annual inflow), coinciding with a sharp rise in Ether's (ETH) prices.
ETH rose 26% in the week of July 14, surpassing much of the broader market after a 16% rise the previous week. It currently trades at $3,704, an annual increase of 11%.
BlackRock's Ishares Ethereum Trust (ETHA) stood out among the packs, surpassing its $10 billion worth of assets this week. According to Eric Balknath of Bloomberg Intelligence, the milestone will be the third fastest ETF in history to reach that number. Only BlackRock's iShares Bitcoin Trust (IBIT) and Fidelity's Wise Origin Bitcoin Fund (FBTC) reached faster.
Spot Ethereum ETFS debuted just a few months after the huge hit release of Spot Bitcoin
Funds that attracted billions of dollars and renewed Wall Street's interest in crypto-based products. The Ethereum lineup includes offerings from financial giants such as Fidelity, Vaneck, Franklin Templeton and Grayscale.
The funds are currently posting 15 consecutive days of net inflows that are hoping to boost investors' appetites and clearer crypto regulations in the US, with the SEC recently showing openness to crypto and industry engagement, urging traders to return to digital assets.
