As US spot Ethereum ETFs celebrated their first anniversary, BlackRock’s ETHA became the third ETF to reach $10 billion in assets so quickly. A look back at this remarkable performance.
BlackRock’s ETHA reaches $10 billion in market capitalization
Since the beginning of the month, the price of ETH has rebounded by more than 46%, even reaching an annual high of $3,859. At the time of writing, the asset is trading at $3,650, up 1% over 24 hours. In this context, US spot Ethereum ETFs have seen strong growth in recent weeks, with BlackRock’s ETHA performing particularly well. Indeed, with the fund now reaching $10.49 billion in net assets, Eric Balchunas, senior ETF analyst at Bloomberg, noted that it had become the third ETF to achieve such a feat so quickly, after BlackRock and Fidelity’s Bitcoin ETFs:
ETHA has just reached $10 billion in one year, the third fastest ETF to reach this milestone in history after (you guessed it) two Bitcoin ETFs, IBIT and FBTC. Surprisingly, it went from $5 billion to $10 billion in just 10 days.
It is in the top 5 in terms of inflows over 1 month and 1 week. Based on this criterion, the podium is made up of three crypto ETFs, followed by JP Morgan’s JEPQ and S&P Global’s XCL.
These two funds reached $10 billion in assets in 444 and 525 days, respectively, with the former tracking the Nasdaq 100 and the latter backed by so-called “communication services” stocks, including Meta, Google, and Netflix:
Note that the values in the chart above are expressed in trading days, not calendar days. This is because US spot Ethereum ETFs celebrated their first anniversary on Wednesday.
In addition, ETHA has completed a series of 14 days of positive net inflows. This is the best streak, tied with two other streaks between November 29 and December 18, 2024, and May 23 and June 12 of last year. BlackRock’s ETHA represents roughly half of the net assets of all US spot Ethereum ETFs, which are currently worth $20.7 billion:
Of course, the increase in the net assets of these ETFs, which have doubled since the beginning of the month, is also partly attributable to the rise in ETH. In terms of the number of ETH under management, this increase is 34.4%, from 4.12 million to 5.54 million units.
