BlackRock Ethereum ETF becomes 3rd-fastest to hit $10B in assets

BlackRock’s spot Ether exchange-traded fund (ETF) has emerged as one of the fastest-growing ETFs ever, joining the ranks alongside two other cryptocurrency funds.

BlackRock’s iShares Ethereum ETF (ETHA) has become the third-fastest ETF to hit $10 billion in total assets under management (AUM), Bloomberg ETF analyst Eric Balchunas reported on Thursday.

“Amazingly, it [ETHA] went from $5 billion to $10 billion in just 10 days,” Balchunas noted, calling the surge the “equivalent of a God candle.”

With this milestone, ETHA is now one of the top three fastest-growing ETFs globally, with each of them being spot crypto ETFs.

ETHA breaks $10 billion in just 251 days

According to data from Eric Balchunas, BlackRock’s iShares Ethereum ETF reached $10 billion in assets in just 251 days since its launch one year ago.

The milestone puts ETHA well ahead of the JPMorgan Nasdaq Equity Premium Income ETF (JEPQ), which took 444 days to hit the same mark and currently ranks as the fourth fastest-growing ETF on record.

The five fastest ETFs to break $10 billion in AUM since launch. Source: Eric BalchunasNovaDius Wealth Management president Nate Geraci said that the three fastest ETFs to hit the $10 billion mark are now all spot crypto ETFs, highlighting their unprecedented growth speed compared to traditional finance.

“We’re talking about an ETF industry that’s been around for over 3 decades and has nearly 4,400 products,” Geraci said in a comment on X.

BlackRock’s Bitcoin ETF remains the front-runner

While ETHA’s rapid growth has outpaced many traditional finance ETFs, it still lags behind the explosive success of BlackRock’s spot Bitcoin ETF.

Launched in January 2024, the iShares Bitcoin Trust (IBIT) broke all records by reaching $10 billion in assets under management (AUM) just 34 days after launch.

Related: SEC approves, then instantly pauses Bitwise’s ETF conversion

Fidelity Investments’ Wise Origin Bitcoin Fund (FBTC) followed closely, hitting the same milestone in just 54 days.

Record Ether ETF inflows as Bitcoin ETFs slow down

Ether ETFs have seen a sharp spike in inflows in July, while Bitcoin ETFs have been losing steam.

According to SoSoValue data, Ether ETFs in the US have posted a 14-day inflow streak, with inflows totaling $4.4 billion since July 3. The ongoing inflow run includes a $726.7 million daily inflow, the largest one since the ETF’s debut last July.

Spot Ether ETF history data vs. spot Bitcoin ETF history data since July 3. Source: SoSoValueBitcoin ETFs have stumbled recently after recording a 12-day inflow streak, with flows turning negative on July 21. Since then, US spot Bitcoin ETFs saw $289 million of outflows over the past three trading days, according to SoSoValue.

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