BlackRock’s Ethereum ETF Nears 3 Million ETH Holdings Amid Growing Institutional Interest and Market Share Gains
Main Idea
BlackRock’s Ethereum ETF (ETHA) has surpassed 3 million ETH holdings, valued at $11.1 billion, driven by strong institutional demand and SEC approval of in-kind redemptions.
Key Points
1. BlackRock’s ETHA accumulated 1.23 million ETH in July, including 59,309 ETH on July 29 alone, pushing its AUM beyond $11.1 billion.
2. SEC approval of in-kind redemptions accelerated inflows, with ETHA recording $223 million in a single day, enhancing market liquidity and confidence.
3. ETHA’s trading volume exceeded $1.1 billion in July, with its share price increasing over 50%, nearing the $30 threshold.
4. Ethereum ETFs have increased their market share from 10% to 13% over two months, while Bitcoin ETFs declined from 90% to 82%.
5. BlackRock’s ETHA remains a dominant player in the Ether ETF space, attracting a large portion of new capital due to strong institutional demand.
Description
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