Ethereum
ETFs that directly hold the digital asset experienced their 20th consecutive day of positive investment flows as of July 31st. This represents the most extended period of consistent daily gains since these ETFs were first introduced to the market.
Figures sourced from SoSoValue
data
indicate that these investment vehicles collectively attracted approximately $17 million in new investment on that particular day.
This sustained positive trend has resulted in total investments across the nine Ethereum ETFs that directly hold the asset nearing $5.4 billion. This total vastly exceeds the cumulative investment observed in previous months since their launch.
Notably, the inflow of capital this month is roughly three times larger than the second-highest month recorded since these products became available.
The
BlackRock’s
Ethereum ETF, named
ETHA,
has been a major driver of this trend. It secured $4.2 billion in inflows during the month, accounting for approximately 78% of all new capital flowing into these Ethereum-based investment products.
Eric Balchunas, a Bloomberg ETF analyst,
commented
on the rapid expansion of ETHA, describing it as “wild.” He further stated that, absent the existence of Bitcoin ETFs, ETHA would be the fastest ETF to reach $10 billion in assets, surpassing prior benchmarks by a significant margin of almost two times.
These consistent inflows have had a substantial positive impact on the total value of assets under management. The Ethereum ETFs that directly hold the asset now manage $21.52 billion in net assets, which represents approximately 5% of the total market capitalization of Ethereum.