BlackRock Ethereum ETF added 106,827 ETH worth $300M on July 10 as ETHA volume soared and ETH price rallied 7% to near $3,000.
As the price of ETH rises by an additional 7% to $3,000 in the larger crypto market surge, BlackRock Ethereum ETF (ETHA) has amassed a whopping 106,827 ETH worth $300 million on Thursday.
BlackRock currently has 2 million ETH in its wallet, the most significant single-day buy made by the asset manager since ETHA’s debut.
Consequently, a massive surge in net inflows of $383 million across all US ETF issuers was seen yesterday.
With record trading volumes over the past two days, the ETHA share price has also shown strength, rising an additional 5% to $22.5.
Inflows Into BlackRock Ethereum ETF Exceed $6 Billion
This week has seen an enormous purchasing binge in BlackRock iShares Ethereum Trust (ETHA), with the most significant one-day inflows of $300.9 million occurring on July 10.
According to data from Farside Investors, this is almost eight times the average inflows since the company’s founding.
The BlackRock Ethereum ETF has also seen net inflows of over $6 billion since its launch.
According to the most recent report, BlackRock has outpaced Bitcoin with its Ethereum acquisitions.
The BlackRock Ethereum ETF currently has a whopping 2 million Ethereum, according to the official iShares website.
Furthermore, the net assets under management for this fund have already approached $6 billion, with the price of ETH rising 15% on the weekly chart to $3,000.
ETHA Records High Volume Of Trades
According to Bloomberg ETF expert Eric Balchunas, the iShares Ethereum Trust (ETHA) has recorded record trading volumes over the last two days, reaching $800 million daily.
This exceeded its average by more than four times. Donald Trump’s Truth Social has joined the Ether ETF race amid these strong inflows.
Large inflows into the ETF are anticipated in the days ahead due to the volume spike and the robust Ethereum price climb.
Balchunas wrote on social media platform X, “[We’ll] probably see some chunky flows next couple days given the price is also up.”
After-market hours trading saw the ETHA share price soar by an additional 5% to $22.5, increasing its weekly gains to over 9%.
Market watchers are growing more optimistic about ETHA despite the stock’s 18% decline over the previous 12 months.
The SEC’s approval of staking for Ethereum ETFs is highly anticipated as it may increase institutional inflows.
Ultimately, this can raise the price of ETHA’s shares even more.
