BlackRock’s Ethereum ETF Surpasses $1B

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In a turnaround from six straight weeks of negative outflows, US-based spot Ethereum exchange-traded funds (ETFs) have recorded their highest weekly inflows since early August.

One of the funds has also surpassed an important mark, with a net asset value of over $1 billion. Data from SoSoValue shows that on Friday, US-based spot Ether ETFs saw inflows of $58.7 million, resulting in a total net positive inflow of around $84.5 million for the week.

This was led by Fidelity’s FETH fund, which saw an inflow of $42.5 million, followed by BlackRock’s ETHA fund with $11.5 million in inflows. While Fidelity had the larger one-day inflow, BlackRock’s fund achieved an important milestone of reaching a total net asset value of $1 billion just two months after its launch.

This makes it the second fund after Grayscale’s Ethereum Mini Trust to achieve this value.

This significant sum places BlackRock’s fund among the top 20% of the over 3,700 ETFs available on the US market, according to Nate Geraci, president of The ETF Store.