BlackRock’s Ethereum ETF hits $1B in just two months

BlackRock's Ethereum ETF (ETHA) has reached a major milestone, surpassing $1 billion in asset value just two months after its launch.

The ETF's rapid growth follows a strong week for crypto markets, with both Bitcoin (CRYPTO:BTC) and Ethereum (CRYPTO:ETH) ETFs recording significant inflows, signaling renewed optimism for a market recovery.

According to Sosovalue data, BlackRock’s ETHA is the second Ethereum ETF to achieve this milestone, following Grayscale’s Ethereum Mini Trust.

Nate Geraci, President of the ETF Store, highlighted that ETHA now ranks among the top 20% of the 3,700 ETFs in the U.S. market.

This achievement comes as Bitcoin ETFs attracted $1.11 billion in inflows last week, while Ethereum ETFs saw $84.6 million, marking the highest since August.

BlackRock’s success with ETHA is part of a broader trend of rising interest in crypto ETFs.

Last week, Ethereum ETFs experienced positive net inflows for three out of five trading days, contributing to the second consecutive week of gains for the asset class since its debut in late July.

This growth aligns with increasing liquidity in the U.S. market, driven by the Federal Reserve’s monetary policy decisions.

Meanwhile, BlackRock is also expanding its Bitcoin portfolio.

Data from Arkham reveals that the firm purchased 5,894 BTC, valued at $387.68 million, over four days, bringing its total Bitcoin holdings to 365,310 BTC, worth over $24 billion.

This buying spree indicates strong confidence in Bitcoin’s potential as a "safe haven" asset, with BlackRock’s head of digital assets, Robbie Mitchnick, noting that Bitcoin’s decentralised nature makes it a valuable hedge against currency debasement and political instability.

As BlackRock continues to invest in both Bitcoin and Ethereum, its growing presence in the crypto ETF market highlights the increasing integration of digital assets into traditional financial products.

At the time of writing, the Bitcoin price was $64,435.80, and the Ethereum price was $2,624.54.