The nascent Ethereum exchange-traded fund (ETF) market witnessed an unprecedented surge in capital inflows last Sunday, attracting a record $1.019 billion. This monumental wave of institutional investment propelled the price of Ethereum (ETH) significantly higher.
Leading the charge was BlackRock’s iShares Ethereum Trust (ETHA), which demonstrated exceptional strength. ETHA not only processed the largest individual contribution to the record-breaking sum but also announced it had effectively doubled its assets under management (AUM) within three months, now exceeding $10 billion. In a single day alone, the fund reportedly added a staggering 149,168 ETH, valued at approximately $640.68 million based on prevailing prices.
Reflecting this surging institutional demand, Ethereum’s price trajectory diverged positively from the broader market. ETH experienced a robust 19% increase over the past week, climbing to $4,279.18. This performance notably outpaced Bitcoin’s more modest gain of 4% during the same period.
ETHA’s own share price mirrored this bullish sentiment, achieving a new all-time high of $33.02. The ETF has seen its share value climb an impressive 41% in the last month, representing a near 200% increase from its April lows.
While Ethereum and its associated ETFs thrived, the wider crypto market exhibited mixed signals. Bitcoin retreated, slipping beneath the $120,000 threshold, highlighting Ethereum’s relative strength amidst the record-setting ETF inflows witnessed last weekend.