BlackRock's Ethereum ETF pulls in nearly $900 million since launch

For BlackRock, the launch of their own Ethereum Spot ETF has been a great success so far. Since the launch of "ETHA," the world's largest asset manager has brought in about $900 million in new investments. This is according to new data from Farside Investors. On yesterday's trading day alone, about $110 million flowed into the ETF, this was the third highest amount since its launch nearly two weeks ago.

Thanks to this performance, the ETHA alone provided a positive net balance among all Ethereum ETFs ($98.4 million). According to ETF expert Nate Geraci, this financial product from BlackRock had the sixth best start to the year.

And the growth doesn't seem to be stopping yet: the Nasdaq apparently wants to open ETHA to options trading as well. An application is currently before the Securities and Exchange Commission (SEC) for approval. However, a decision is not expected until April 2025, according to ETF expert James Seyffart at X. A similar move is also being considered for Bitcoin Spot ETFs. There too, they are still awaiting final approval from the SEC.

Overall, Spot ETFs have so far not brought the expected price appreciation for Ethereum. On the contrary, ETH lost about 25% of its value on a weekly basis after a flash crash on Monday. A major cause of this sharp decline was a stock market crash in Japan.