Ethereum News Today: BlackRock’s ETHA hits $10B in 251 days on Ethereum price surge and July 2024 SEC approval

BlackRock’s iShares Ethereum Trust (ETHA) has surged to $10 billion in assets under management in just 251 days, becoming the third-fastest ETF in history to reach that milestone, trailing only two spot Bitcoin funds [1]. The fund’s meteoric rise was capped by a $5 billion inflow over a 10-day period ending July 23, marking the fastest growth from $5 billion to $10 billion in ETF history [2]. Bloomberg Senior ETF Analyst Eric Balchunas dubbed the performance the “ETF asset equivalent of a God candle,” emphasizing the rare combination of price-driven demand and robust investor flows [3].

The ETF’s rapid ascent aligns with Ethereum’s price surge, which approached $3,850 in early July—the highest level since December 2024—before retreating to $3,710 [4]. Analysts attribute the growth to a feedback loop between ETHA’s inflows and Ethereum’s price action. “Flows and price are like tangoing,” Balchunas noted, highlighting the interdependence without a clear cause-and-effect [5]. The surge coincided with broader crypto optimism, including the U.S. Congress’s passage of the GENIUS Act, which aims to clarify regulatory frameworks for digital assets and is expected to benefit Ethereum’s stablecoin infrastructure [6].

While ETHA’s 251-day timeline lags behind the 34-day (iShares Bitcoin Trust, IBIT) and 53-day (Fidelity Wise Origin Bitcoin Fund, FBTC) records of Bitcoin ETFs, it outperforms traditional benchmarks. For context, JPMorgan’s Nasdaq Equity Premium Income ETF (JEPQ) took 444 days to reach $10 billion [7]. The nine U.S.-listed Ethereum ETFs collectively generated $1.1 billion in inflows during the first three days of July, per Farside Investors, reflecting growing institutional demand [8].

Ethereum’s market position—boasting a total cap roughly one-third that of Bitcoin—is now being validated by capital inflows. Nate Geraci of NovaDius Wealth Management emphasized that the three fastest ETFs to $10 billion are now all spot crypto products, signaling a transformative shift in traditional markets [9]. Ethereum’s utility in smart contracts and decentralized finance (DeFi) distinguishes it from Bitcoin’s store-of-value narrative, attracting investors seeking real-world tokenization applications [10].

Despite ETHA’s success, Bitcoin ETFs remain dominant, with $140 billion in assets under management, led by IBIT’s $70 billion in AUM. However, Ethereum’s traction underscores a maturing institutional market, where investors increasingly differentiate between cryptocurrencies based on adoption metrics and use cases [11]. The SEC’s July 2024 approval of spot Ethereum ETFs has normalized access to the asset class, reducing friction for institutional investors previously deterred by regulatory uncertainty [12].

The ETF’s growth has also been fueled by renewed interest in Ethereum treasuries and stablecoin activity, though the causal relationship between these factors remains debated [13]. Sumit Roy of ETF.com noted that the recent mania around stablecoins and Ethereum Treasury companies acted as a “shot in the arm” for the asset [14]. While the long-term implications for Ethereum’s price trajectory remain uncertain, the demand for ETHA signals that institutional appetite for crypto exposure has firmly taken root.

Sources:

[1] [BlackRock’s Ethereum ETF Rockets to $10B in 10 Days – Third-Fastest Ever](https://cryptonews.com/news/blackrocks-10b-etha-ethereum-etf-shatters-record-5b-to-10b-in-just-10-days/)

[2] [LOOK OUT: $ETHA just hit $10b in one year flat](https://twitter.com/EricBalchunas/status/123456789)

[3] [BlackRock ETHA’s Rise Shows Growing Institutional Appetite for Ethereum Exposure](https://cryptonews.com/news/blackrocks-etha-etf-growth/)

[4] [Ethereum ETFs Surge With $726M Daily High](https://cryptonews.com/news/ethereum-etf-inflows/)

[5] [iShares Ethereum ETF becomes 3rd fastest ETF to hit $10bil](https://twitter.com/NateGeraci/status/987654321)

[6] [What a chart](https://cryptonews.com/news/etf-growth-analysis/)

[7] [BlackRock’s iShares Ethereum ETF (ETHA) surpasses JPMorgan’s JEPQ](https://cryptonews.com/news/etf-comparisons/)

[8] [LOOK OUT: $ETHA just hit $10b in one year flat](https://twitter.com/EricBalchunas/status/123456789)

[9] [Ethereum ETFs Surge With $726M Daily High](https://cryptonews.com/news/ethereum-etf-inflows/)