tl;dr
BlackRock’s iShares Ethereum ETF (ETHA) reached $10 billion in assets under management in 251 days, making it the third-fastest ETF to hit this milestone, behind BlackRock’s spot Bitcoin ETF and Fidelity’s Wise Origin Bitcoin Fund. ETHA grew from $5 billion to $10 billion in just 10 days. This pace ...
BlackRock’s spot Ether exchange-traded fund (ETF), the iShares Ethereum ETF (ETHA), has joined the elite group of fastest-growing ETFs ever, reaching $10 billion in assets under management (AUM) in just 251 days. This accomplishment places ETHA as the third-fastest ETF to hit this milestone, trailing only behind BlackRock’s spot Bitcoin ETF and Fidelity’s Wise Origin Bitcoin Fund. Bloomberg ETF analyst Eric Balchunas highlighted ETHA’s rapid ascent from $5 billion to $10 billion in merely 10 days, describing the surge as the “equivalent of a God candle.”
ETHA’s milestone outpaces traditional ETFs, such as JPMorgan’s Nasdaq Equity Premium Income ETF (JEPQ), which took 444 days to achieve $10 billion. Nate Geraci, president of NovaDius Wealth Management, underscored this unprecedented pace by noting that the three fastest ETFs to reach $10 billion are now all spot crypto ETFs, a remarkable feat within the ETF industry that spans over 30 years and nearly 4,400 products.
Despite ETHA’s rapid growth, it still trails behind BlackRock’s iShares Bitcoin Trust (IBIT), which shattered records by hitting $10 billion AUM only 34 days after its January 2024 launch. Fidelity’s FBTC followed with a swift 54-day climb to that same benchmark.
In July, Ether ETFs have experienced a significant surge in inflows, marked by a 14-day streak totaling $4.4 billion and a peak daily inflow of $726.7 million—the largest since ETHA’s debut. Conversely, Bitcoin ETFs have seen a slowdown; after a 12-day period of inflows, they faced outflows starting July 21, with $289 million exiting US spot Bitcoin ETFs over three trading sessions.