BlackRock's iShares Ethereum Trust Exceeds $10 Billion AUM in 251 Days, Becoming the Third Fastest-Growing ETF in 32-Year Industry History
The iShares Ethereum Trust (ETHA) from BlackRock has created a historic milestone by surpassing $10 billion in managed assets in just 251 days of operation. According to Bloomberg data, this is the third-fastest growth achievement in the 32-year ETF industry history, following iShares Bitcoin Trust (IBIT) and Fidelity Wise Origin Bitcoin Fund at 34 and 53 days respectively.
Impressively, ETHA doubled its size from $5 billion to $10 billion in just 10 days, marking the shortest period for an ETF to achieve such growth. Eric Balchunas, senior ETF analyst at Bloomberg, noted this as a perfect combination of underlying asset price increase and strong capital flow.
"The increase from 5 to 10 billion USD is largely due to price appreciation, but capital flow is also very strong. I don't think I've ever seen an ETF grow this quickly," Balchunas shared with Decrypt.
Ethereum's Surge Drives Investment Demand
ETHA's growth is closely linked to Ethereum's price explosion, reaching $3,850 early this week – its highest level since December 2024. Currently, Ethereum is trading around $3,710, down about 3.5% from its peak but still maintaining an impressive increase.
The emergence of enterprises using Ethereum as Treasury capital has also contributed to driving demand for ETFs. Balchunas described the relationship between capital flow and price as a "tango", where both factors complement each other without a clear causal relationship.
In just the first three days of the week, nine US-listed Ethereum ETFs attracted a net inflow of over $1.1 billion, according to Farside Investors' report. However, this performance still falls far behind the 12 Bitcoin funds holding total assets of over $140 billion, with IBIT leading at over $70 billion.
Initially, Ethereum ETFs launched quite cautiously, failing to create the same impact as previous Bitcoin spot funds. However, a more favorable legal environment under President Donald Trump's administration, especially the passage of the GENIUS Act, has facilitated Ethereum – the dominant platform in stablecoin trading.
Sumit Roy, senior analyst at ETF.com, expressed surprise at ETF investors' prolonged hesitation in investing in Ethereum. "All of that has changed in the past few weeks as excitement around stablecoins and Ethereum Treasury companies has reinvigorated this asset," Roy noted.
He believes this ultimately demonstrates a genuine demand for Ethereum ETFs, though it remains unclear whether this will be the catalyst to help Ethereum break out of its sideways trading range.
