BlackRock’s iShares Ethereum Trust (ETHA) has surpassed $10 billion in assets under management just one year after its debut, making it the fastest non-Bitcoin ETF to reach that mark and the third-fastest overall in U.S. ETF history—trailing only the iShares Bitcoin Trust and Fidelity’s FBTC.
Bloomberg ETF analyst Eric Balchunas shared the milestone on July 23, noting on X that ETHA’s assets doubled from $5 billion to $10 billion in just 10 days. He also pointed out that ETHA ranks among the top five ETFs for inflows over both one-week and one-month periods.
The fund’s rapid growth has been fueled by rising institutional demand and increasing investor interest in Ethereum-based investment products.
Launched in early 2024, ETHA was introduced following its approval by the U.S. Securities and Exchange Commission, alongside seven other spot Ethereum ETFs. BlackRock had filed for the product in November 2023 and chose Coinbase Prime as its custodian. The ETF carries a 0.25% sponsor fee and is designed to track the market price of Ether, net of expenses and liabilities.
Ethereum ETFs Surpass Bitcoin ETFs in Growth Speed
According to data from SoSoValue, Ethereum ETFs have posted robust monthly inflows totaling $4.7 billion, with BlackRock’s ETHA leading in both volume and growth rate. On July 17 alone, Ethereum ETFs brought in $602 million in net inflows—surpassing Bitcoin ETFs, which recorded $523 million that day.
Analysts view this shift as a sign of increasing investor confidence in Ethereum’s long-term potential, driven by its proof-of-stake consensus mechanism and central role in decentralized finance (DeFi).
BlackRock has also submitted a proposal to enable staking within ETHA, which would allow a portion of the fund’s Ethereum holdings to be locked up in exchange for yield. Earlier this year, the SEC clarified that staking rewards are treated as income rather than securities, potentially clearing the path for regulatory approval.
While Bitcoin ETFs still lead in total cumulative inflows, Ethereum ETFs are gaining ground more quickly, fueled by growing interest in DeFi exposure and the potential for staking-generated returns.
