Ethereum exchange-traded funds (ETFs) had a great week!
Massive Inflows
During the third week of September, Ethereum ETFs saw a whopping $557 million in new money. While slightly less than the previous week’s $637 million, it still shows investors are really interested in these funds. This follows a rough start to the month with significant outflows, but September’s overall inflows now sit at a healthy $407 million.
BlackRock’s Dominance
BlackRock’s iShares Ethereum Trust (ETHA) completely stole the show, bringing in $513 million – that’s over 92% of all the new money going into Ethereum ETFs! ETHA now boasts $13.4 billion in total inflows and a massive $17.1 billion in assets under management (AUM).
Other Players
Other ETFs saw smaller gains. Grayscale’s Ethereum Mini Trust and Fidelity’s FETH saw decent inflows, but nothing compared to BlackRock. Some ETFs even saw outflows, showing the market isn’t perfectly uniform.
Overall Picture
All Ethereum ETFs now hold a combined $29.6 billion in assets, fueled by $13.3 billion in cumulative inflows. Despite some price volatility and uneven performance among smaller ETFs, institutional interest in Ethereum remains strong. BlackRock’s success is setting the pace for the whole sector. If this continues, Ethereum ETFs will be a major factor in institutional adoption of Ethereum in the coming years.
Bitcoin ETFs Also Booming
Bitcoin ETFs also had a fantastic week, with $887 million in new money, bringing the month’s total to $3.48 billion. BlackRock’s iShares Bitcoin Trust (IBIT) again dominated, mirroring its success in the Ethereum market. Bitcoin ETFs now hold $152.3 billion in assets, representing 6.63% of Bitcoin’s total market cap.