BlackRock Ethereum ETF (ETHA) saw $640.68M in its most significant daily inflow since launch, pushing its share price above $33.
At $639.87 million on Monday, the BlackRock Ethereum ETF (ETHA) saw its most significant daily inflows since launch.
Consequently, ETHA’s net holdings have surpassed 3.3 million ETH, and its net inflows have now reached the $10 billion milestone.
Additionally, the price of ETHA shares increased by almost 5%, reaching a record high of $33.02.
The enormous inflows of today coincide with the high demand for ETH in the corporate treasury race.
BlackRock Ethereum ETF Achieves Another Significant Goal
BlackRock iShares Ethereum Trust (ETHA) has had net inflows of over $10 billion for the first time since its launch.
Remember that only the last three months have seen the increase from $5 billion to $10 billion.
BlackRock has more than 3.3 million Ethereum in total assets after adding 1.25 million in July alone.
The BlackRock Ethereum ETF saw net inflows of 149,168 ETH on Monday, August 11, totaling $640.68 million.
Since its creation, this represents the fund’s most significant one-day inflows.
In addition, ETHA’s trade volume reached an incredible $1.8 billion yesterday.
Furthermore, according to Farside Investors statistics, the spot Ether ETFs, across all US ETF issuers, set a milestone by surpassing $1 billion in daily inflows for the first time since their launch.
The most significant contributor to the overall inflows was the BlackRock Etheeum ETF, but Fidelity’s FETH also experienced a robust $276.9 million inflow.
BlackRock’s ETH staking proposal for their Ether ETF, which was submitted last month, is the focus of all attention.
More institutional capital will be drawn if the SEC approves the same.
Following a 5% increase on Monday, the price of ETHA shares has reached an all-time high of $33.02.
The share has increased by 41% in the last month and almost 200% since its April low of $11.5.
This enormous rise follows the robust ETH accumulation in June and July.
Spot Ether ETFs Are Significantly Undervalued
For the previous few weeks, spot Ether ETFs have outpaced their BTC equivalents, with BlackRock Ethereum ETF (ETHA) handling all the heavy lifting.
Thanks to the increase in ETH’s price from $2,500 in June to $4,300 levels today.
Spot Ether ETFs received $1 billion in daily inflows yesterday, 5.5 times the $179 million received by Bitcoin ETFs.
Nate Geraci, president of NovaDius Wealth, commented on the development:
“Feel like spot eth ETFs were severely underestimated simply b/c tradfi investors didn’t understand eth…Btc had nice clean narrative, “digital gold”. Eth takes more time for investors to understand.Now they’re hearing “backbone of future financial markets” & it’s resonating”.
Over the previous week, the price of ETH has increased by a further 20%, reaching $4,300.
Due to significant accumulation by ETH Treasury businesses, market observers predict that the rise will continue to reach $12K before the end of the year.
