Ethereum ETF breaks through $1 billion mark

It's official: BlackRock's Ethereum Spot ETF has attracted more than a billion dollars in cumulative net inflows since its launch on July 23. With this, the Wall Street giant once again shows how strong they are in the race for crypto-ETFs.

The iShares Ethereum Trust (ETHA) was launched along with Ether index funds from seven other issuers. But even the second best, Fidelity, lags far behind with net inflows totaling $375.4 million, according to Farside data.

Meanwhile, the price of Ethereum (ETH) stands at $2,635, up slightly 2.2% from the previous day. Over the past seven days, the ETH price has risen 0.93%.

Despite BlackRock's success, the overall performance of Ethereum Spot ETFs remains negative: this trading week, $46.5 million has already been taken out of the ETH index funds. The biggest culprit? The Grayscale Ethereum Trust (ETHE). Many investors are selling their Grayscale ETF shares because of its high annual fee of 2.5%.

While BlackRock's ETHA has gained just over a billion dollars in net inflows to date, Grayscale's ETHE has lost $2.5 billion over the same period, more than 27% of its initial capital.

If the selling pressure from Grayscale investors finally subsides, it could strengthen Ethereum again. Since the start of ETF trading, the ETH price has fallen 25.2% - a disappointment for many investors.

According to Bloomberg analysts Balchunas and Seyffart, the launch of Ethereum ETFs, measured by trading volume, was, despite everything, the "second best in the history of ETFs."