BlackRock's Ethereum ETF ETHA Holds 2 Million ETH After $300 Million Purchase

BlackRock's Ethereum ETF, ETHA, has achieved a significant milestone by surpassing 2 million ETH in holdings. This accomplishment is a testament to the growing institutional interest in Ethereum as an investment asset. The ETF's holdings, valued at approximately $6 billion, reflect a substantial increase in its total ETH holdings, driven by a massive single-day purchase of 106,827 ETH worth $300 million. This purchase, made on July 10, is the largest by BlackRock since the launch of ETHA.

The ETHA share price also saw a notable surge, jumping 5% to $22.5, accompanied by record trading volumes exceeding $800 million for two consecutive days. This surge in trading volume and share price reflects the growing interest and confidence in Ethereum as an investment asset. The ETH price rally, which saw a 7% increase to $3,000, further bolstered the ETF's performance. The net inflows across all US ETF issuers also soared to $383 million, highlighting the broader market trend towards Ethereum investments.

The ETHA share price's strength, with a 5% surge to $22.5, and the record trading volumes in the last two days indicate a bullish sentiment among investors. Despite a 18% decline over the past year, market analysts are turning optimistic about ETHA's prospects. The anticipation of the SEC approving staking for Ethereum ETFs could trigger greater institutional inflows, potentially driving the ETHA share price even higher. This development is expected to attract more institutional investors, further solidifying Ethereum's position in the market.