BlackRock Ethereum ETF Sees $519 Million in Inflows on August 14
On August 14, BlackRock's iShares Ethereum Trust (ETHA) led US ETF inflows with $519 million, acquiring 114,069 ETH. Despite the minor pullback in ETH price, which is currently down 2.29% at $4,640, total market capitalization stands at $560 billion.
Key Highlights
- ETHA saw net inflows exceed $2 billion over four days, with daily trading volume at $2.9 billion on August 14.
- Total ETH holdings in ETHA have reached approximately 3.5 million, up from $5 billion to $12 billion in net inflows over two months.
- Spot Ethereum ETFs recorded inflows of 139,319 ETH, significantly outpacing the network's issuance of about 2,372 ETH.
- Net inflows into Ethereum ETFs are three times higher than those into Bitcoin ETFs, which were only $230 million.
Current ETH Price Action
Following a surge past $4,700, ETH has pulled back to support around $4,600. The price bounced from $4,466 on August 15, indicating potential recovery.
- Resistance levels identified: $4,640, $4,680, and $4,720.
- A breakout above $4,720 may target $4,880 or $5,000.
BlackRock Ethereum ETF Dominates Inflows Even as ETH Price Rally Stalls