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BlackRock’s (NYSE:BLK) iShares Ethereum Trust (NASDAQ:ETHA) emerged on Tuesday as the first spot ethereum (ETH-USD) exchange-traded fund to exceed $1B in cumulative net inflows. It’s only been about one month since such products started trading on U.S. exchanges.
ETHA’s net inflows exceed the combined total of the next three highest ETF inflows, data from SoSoValue showed. The fund hold more than $860M in net assets, topped only the Grayscale Ethereum Mini Trust (NYSEARCA:ETH) and the Grayscale Ethereum Trust (NYSEARCA:ETHE).
Since the funds went live July 23, the Fidelity Ethereum Fund (BATS:FETH) garnered net inflows of $367M, the Bitwise Ethereum ETF (NYSEARCA:ETHW) raked in $310M and (ETH) took $227M. VanEck’s (BATS:ETHV) saw $60.1M in cumulative net inflows; Franklin’s (BATS:EZET) at $35.3M; Invesco’s (BATS:QETH) at $15.1M; Ark’s (BATS:CETH) at $10.8M; and Grayscale’s (ETHE) at -$2.47B.
In aggregate, the nine ETFs have been outpaced by their bitcoin (BTC-USD) counterparts, with $440.1M in net outflows since going live. Spot bitcoin ETFs, by comparison, saw daily inflows of ~$125M in the first month of trading.