Ethereum ETFs Surge: ETH Outpaces Bitcoin with $1B Inflows
Ethereum ETFs See Record-Breaking Inflows
Ethereum (ETH) has marked a significant milestone as U.S. spot ETH ETFs attracted a record $1.019 billion in net inflows on August 11th, surpassing Bitcoin (BTC)-focused ETFs.
BlackRock’s iShares Ethereum Trust (ETHA) leads the surge, exceeding $10 billion in net inflows just three months after doubling its previous $5 billion total. The fund now holds over 3.3 million ETH.
BlackRock’s ETHA Sets New Records
- On August 11th, ETHA saw its largest single-day inflow since launch, adding 149,168 ETH (approximately $640.68 million).
- This influx boosted ETHA’s daily trading volume to $1.8 billion.
- The fund’s share price reached a new high of $33.02, a 5% increase on August 11th.
ETHA's value has increased by 41% in the last month and nearly 200% from its April low of $11.50. Analysts attribute this momentum to consistent ETH accumulation during June and July.
ETH vs. BTC Price Action
Over the past week, ETH has surged by 19%, significantly outperforming Bitcoin’s 4% gain. This has fueled speculation about Ethereum potentially reaching a new all-time high.
As of writing, ETH was trading at $4,279.18, up 2.18% in the last 24 hours, while Bitcoin was down 1.18%, trading at $118,293.89.
Vitalik Buterin's Vision and BlackRock's Activity
Vitalik Buterin recently outlined his long-term vision for Ethereum, emphasizing ultra-light nodes, built-in privacy, seamless self-custody, and a fully verified tech stack to normalize trustless security.
Notably, Arkham Intelligence reported that BlackRock transferred 2,544 BTC and 101,975 ETH to Coinbase Prime from ETF-linked holdings on August 5th. This has sparked speculation about the motivation behind this move.