BlackRock Ethereum ETF (ETHA) Hits Billionaires, Can ETH Attract More Funds?

ETF Store President Nate Geraci tweeted that the iShares Ethereum ETF (ETHA) has over $1 billion in assets under management, and is now in the top 20% of all 3,700+ ETFs. iShares Ethereum ETF eclipses $1bil in assets... Now in top 20% of all 3,700+ ETFs. Did this is 2 months. According to SoSoValue's statistics, the total assets of the nine Ethereum spot ETFs in the US are $7.44 billion, accounting for 2.3% of Ethereum's total market capitalization. Although Grayscale's ETHE has seen $2.9 billion in outflows, its assets still rank first at $4.51 billion, while its spun-off Grayscale Ethereum Trust ETH has $1.06 billion in assets. BlackRock's ETHA currently ranks third, having attracted $1.13 billion in funds and reaching $1.04 billion in assets. Overall, affected by Grayscale, Ethereum spot ETFs have seen a net outflow of $520 million since their listing. Reviewing the Ethereum spot ETF application process, after BlackRock joined the fray in November 2023, ETH immediately broke through $2,000 from its low point, reaching a recent high of $4,093 in March. Since the SEC approved the 19b-4 form in May and the official listing on 7/23, the trend of ETH seems to be heading towards a "sell the news" scenario, dropping to around $2,100 in August, showing how much the expected psychology has impacted the ETH price. The recent failure of Ethereum spot ETF options, coupled with many people's concerns about Ethereum's long-term value, whether the Ethereum, known as "digital silver", can attract more funds and drive up the coin price, may be the biggest challenge for ETH.