BlackRock Ethereum ETF Doubles to $10 Billion in Days, What’s Behind It?

BlackRock’s iShares Ethereum Trust (ETHA) has officially crossed $10 billion in assets under management (AUM), making it the third-fastest exchange-traded fund (ETF) in history to achieve this milestone.

According to Bloomberg ETF analyst Eric Balchunas, BlackRock’s iShares Ethereum Trust (ETHA) has reached $10 billion one year after its launch, trailing only two other crypto ETFs: BlackRock’s spot Bitcoin ETF (IBIT) and Fidelity’s spot Bitcoin ETF (FBTC). All three are now the fastest ETFs to reach $10 billion AUM, outperforming thousands of traditional finance counterparts.

“ETHA just hit $10 billion in one year flat, the 3rd fastest ETF to hit that mark in history after two Bitcoin ETFs, IBIT and FBTC,” according to Balchunas.

“Amazingly, ETHA went from $5 billion to $10 billion in just 10 days,” the Bloomberg ETF analyst added, attributing the surge to an ETF asset equivalent of a “God candle” — a term traders use to describe explosive upward movement. He also highlighted ETHA’s momentum, noting it currently ranks in the top five for ETF inflows over the past week and month.

Blackrock ETH ETF among three fastest to reach $10 billion

Nate Geraci, President of ETF Store, tweeted about the achievement: “iShares Ethereum ETF becomes the third fastest ETF to reach $10 billion in assets,” adding that all three of the fastest ETFs to reach $10 billion are spot crypto ETFs in an ETF industry that has been around for over 30 years and has nearly 4,400 products.

Ethereum is garnering increased institutional interest, bolstering the network’s long-term bullish outlook.

Earlier this month, in an interview with CNBC, Fundstrat’s Tom Lee described Ethereum as “Wall Street’s preferred choice” for blockchain infrastructure. He alluded to JPMorgan’s stablecoin and Robinhood’s tokenization programs, both built on Ethereum, as examples of how traditional finance is increasingly aligning with the network.