BlackRock's ETH Spot ETF Surges with $108 Million Inflows
CryptoNewsTerminal Staff06 Aug, 2024
BlackRock's ETH Spot ETF Surges with $108 Million Inflows
On-chain data analytics provider Treanews reported via official Twitter on May 11, 2023, "BlackRock's Etheruem(ETH) spot ETF(ticker : ETHA) had $108 million in inflows on Wednesday". This represents the third-largest inflows since its inception. Nate Geraci, CEO of ETF Store, a U.S.-based ETF brokerage, commented on this development, saying, "Even on May 5th, when the broader crypto market was experiencing a downturn, $50 million flowed into ETHA. As a result, ETHA has now raked in close to $900 million in inflows within its first two weeks of trading." BlackRock's ETH spot ETF has gained significant traction since its launch, reflecting the growing institutional interest in the cryptocurrency market. The fund provides investors with exposure to the price of Ether without the need for direct ownership or custody. Its robust inflows indicate the increasing appetite among institutional investors for convenient and regulated access to the digital asset space.
