BlackRock Ethereum ETF Nears $5 Billion in Inflows Amid Bitcoin Outflows
BlackRock's Ethereum ETF (ETHA) has seen inflows for nine consecutive days, nearing $5 billion. Over this period, nearly half a billion dollars flowed into the fund, making it the top performer among US ETF issuers. The net assets under management are currently $3.7 billion, with over 1.5 million ETH held.
The ETHA share price rose more than 40% in the last month. Spot Ethereum ETFs have recorded inflows for 14 straight trading days, accumulating over $800 million, indicating increased institutional confidence.
- Strong capital rotation from BlackRock’s Bitcoin ETF (IBIT) to ETHA is predicted, with IBIT experiencing $278 million in outflows recently.
- Despite a 6% correction in ETH price over two weeks, confidence in Ethereum's long-term potential remains high.
- Analyst Eirc Jackson emphasized the growing interest in ETHA and anticipated significant future demand.
The Ethereum Foundation announced a cash runway of 2.5 years and plans to reduce annual ETH spending from 15% to 5%.