Ethereum, the second-largest cryptocurrency by market capitalization after Bitcoin (BTC), has been making waves recently.
A recent tweet revealed that the Ethereum investment sector saw a significant boost on July 24, as spot Ethereum exchange-traded funds (ETFs) recorded a substantial net inflow of $231.23 million.
The latest ETF influx marks the 15th consecutive day of net inflows, showing how investors have been pouring funds into the asset in recent times.
The Growing Impact of Ethereum ETFs
One of the leading players attracting funds into the Ethereum ETF market is BlackRock’s iShares Ethereum Trust ETF (ETHA). In an X post on Thursday, Bloomberg ETF Senior Analyst Eric Balchunas revealed that ETHA achieved a significant record by becoming the third-fastest exchange-traded fund to reach $10 billion in assets under management within a year of its launch.
Balchunas described ETHA’s growth rate as a “God candle” moment, stressing how the fund grew its AUM from $5 billion to $10 billion in just 10 days.
He added that only two funds, BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity’s Wise Origin Bitcoin Fund (FBTC), have hit such records in a similar timeframe. IBIT achieved this milestone in just 34 days, while FBTC made the same record in 54 days.
It’s been a year since the United States Securities and Exchange Commission (SEC) gave the green light to the first spot ether-backed ETF, paving the way for asset managers like Grayscale, Fidelity, and Bitwise to launch ETFs that directly track the asset’s price.
This move has sparked a surge in growth, signaling growing institutional interest in the ETH-focused investment vehicle.
Institutional Investors Flock to Ethereum
In recent developments, institutions are going bullish on Ethereum, accumulating the largest altcoin. Former Bitcoin mining company Bit Digital has abandoned its Bitcoin-focused strategy and switched to staking ether.
The platform sold all its BTC holdings, about 280, to buy ETH. Bit Digital also utilized the proceeds from its $172 million public offering to fund additional ETH acquisitions, increasing the company’s total holdings to 100,603 ETH.
The Trump-backed DeFi platform, World Liberty Financial (WLFI), has also recently added 6,144 ETH, worth approximately $23 million, to its treasury, continuing its aggressive ETH buying spree.
