Top asset management firms such as BlackRock, Fidelity, and Grayscale have been aggressively increasing their holdings of Ethereum. On August 13, they collectively absorbed 155,620 ETH through their Ethereum ETF funds. Just the BlackRock iShares Ethereum Trust (ETHA) contributed $500 million in inflows yesterday. In the first three days of this week, the net inflows into these ETFs have exceeded $2.2 billion, highlighting strong interest from institutional investors.
BlackRock's Ether ETF holdings are nearing 3.5 million Ethereum.
On August 13 (Wednesday), BlackRock's Ether ETF (ETHA) saw a net inflow of 105,900 ETH, marking the seventh consecutive day of net inflows exceeding 100,000 ETH since its inception. Furthermore, the trading volume of ETHA reached a record high of $3 billion on August 13.
ETHA's stock price continues to rise, reaching an all-time high, with a further increase of 5% yesterday, closing at $35.90. As the ETH price approaches its historical peak, the net assets managed by ETHA have approached $16 billion. Additionally, the total ETH holdings of the fund are now nearing 3.5 million coins.
According to data from Farisdie Investors, aside from BlackRock, Fidelity's Ethereum ETF (FETH) also welcomed $155 million in inflows yesterday, followed by Grayscale's mini Ethereum ETF (ETH), which saw inflows of $51.3 million. After a significant influx of institutional funds this week, the total net inflows for all U.S. ETF issuers have surpassed $12 billion since their inception.
The Ether ETF outperformed the Bitcoin ETF.
Although the inflow rate for Bitcoin ETFs has slowed in recent weeks, the Ether ETF has consistently enjoyed strong demand from institutional investors and has performed exceptionally well.
The net inflow into the Ethereum ETF was approximately 155,620 ETH, valued at $704.3 million, far exceeding the net issuance of ETH (around 2,387 ETH). This means that the amount of ETH purchased by the ETF is 65 times the issuance of ETH in the network. In contrast, the inflow into the Bitcoin ETF was $86.7 million. This marks the third consecutive day that ETH's inflows have exceeded those of Bitcoin.
In addition to the ETFs, the recent outstanding performance is also reflected in the prices. Over the past week, ETH has surged by 30%, while BTC rose by 6.5% during the same period. However, as the market anticipates that the Federal Reserve will cut interest rates at the September FOMC meeting, Bitcoin's price earlier today reached an all-time high, soaring to $124,500.
