Ethereum News Today: BlackRock's ETHA Surpasses 3M ETH, AUM Hits $11.1B on SEC Policy Boost

BlackRock’s iShares Ethereum Trust (ETHA) has surpassed 3 million ETH in holdings, with 1.23 million of those added during July’s accumulation cycle. The fund’s latest acquisition, 59,309 ETH on July 29, brought total assets under management to over $11.1 billion. This growth underscores strong institutional interest in Ethereum, driven in part by the U.S. Securities and Exchange Commission’s approval of in-kind redemptions for Ethereum ETFs [1].

The approval has significantly accelerated inflows into ETHA, with the fund recording $223 million in inflows on a single day in late July. That amount alone accounted for more than the combined net inflows of all Ethereum ETFs on that day. Overall, Ethereum ETFs saw net inflows of approximately 58,000 ETH on the same day, further reflecting the momentum in the sector [1].

ETHA shares have seen trading volumes exceed $1.1 billion as the fund’s share price climbed more than 50% in July, nearing the $30 mark. The surge in trading volume and price increase highlights growing trader confidence in Ethereum-based exchange-traded funds [1].

The SEC has also acknowledged a proposal to allow staking within the ETHA structure, with market analysts expecting a decision by the end of the year. If approved, staking would allow ETF issuers to earn yield on held ETH, potentially passing added returns to investors [1].

Bloomberg ETF analyst Eric Balchunas noted a shift in the crypto ETF market over the past two months, with Ethereum’s share increasing to 13% while Bitcoin’s dominance fell from 90% to 82%. Despite this trend, Balchunas forecasts Ethereum ETFs will likely not surpass 20% of total crypto ETF AUM. Nevertheless, ETHA continues to capture a significant portion of new capital entering the Ether ETF space, indicating strong institutional confidence in Ether [1].

Source: [1]BlackRock Ethereum ETF Surpasses 3M ETH as July Inflows Top $1.1B (https://cryptofrontnews.com/blackrock-ethereum-etf-surpasses-3m-eth-as-july-inflows-top-1-1b/)