Ethereum

Flow

BlackRock

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<p dir="ltr">The BlackRock iShares Ethereum Trust (ETHA) has clinched a new flow milestone toward the $1 billion mark. This demonstrates ETHA's increasing growth, among other issuers, approved to trade a spot Ethereum ETF in the U.S.</p>
<h2 id="blackrock-ethereum-etf-s-new-milestone">BlackRock Ethereum ETF’s new milestone</h2>
<p dir="ltr">According to&nbsp;<a href="https://farside.co.uk/eth/" rel="noopener noreferrer nofollow">data</a> from Farside Investors, money flowing into ETHA has topped $901 million as of this writing. As a result, BlackRock is now leading other issuers like Fidelity Investments, Bitwise, Grayscale Investments and VanEck on the Ethereum ETF market.</p>
<p dir="ltr">Launched on July 23, 2024, ETHA primarily allows investors to trade Ethereum within a traditional brokerage account. It also makes it easy for crypto enthusiasts to hold Ethereum directly without dealing with operations burdens like high trading costs and tax reporting complexities.</p>
<p dir="ltr">Since it debuted, BlackRock’s ETHA has had its fair share of bad days with little or no revenue. But overall, ETHA has accumulated a sizable influx, most likely due to BlackRock's clout as a massive asset manager. Per its product page, it has accumulated total shares worth 293,938.95 with a valuation of $761,954,433.48.</p>
<p dir="ltr">As momentum for the spot Ethereum ETF market picks up, many expect to see its reflection in the price of Ethereum.</p>
<h2 id="ethereum-recovers-slightly">Ethereum recovers slightly</h2>
<p dir="ltr">However, the price of Ethereum did not&nbsp;<a href="https://u.today/heres-why-ethereum-didnt-skyrocket-on-etf-launch" rel="noopener noreferrer nofollow">reflect</a> the excitement that followed the launch of its spot ETF. While investor interest has been heightened, strong selling pressure persists for the digital asset. Ethereum's price, trading above $3,400, quickly&nbsp;<a href="https://u.today/ethereum-eth-crashes-to-2800-did-etf-spark-bloodbath" rel="noopener noreferrer nofollow">plummeted</a> to $2,800 shortly after the launch of ETH ETFs.</p>
<p dir="ltr">From this point, Ethereum’s price dropped, even reaching the $2,500 mark. The sharp decline was attributed to institutional investors selling off their ETH holdings. On the daily frame, ETH appears to be recovering slightly, according to CoinMarketCap. Ethereum experienced a 1.15% surge in the past day, setting its price at $2,681. The trading volume also increased by 66.29%, indicating renewed investor interest.</p>

BlackRock Ethereum ETF Eyeing $1 Billion Flow Milestone: Details

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