
BlackRock’s iShares Ethereum Trust has almost hit $900 million in total inflows after just 11 trading days.
BlackRock’s spot Ether exchange-traded fund (ETF) saw $109.9 million in inflows on Aug. 6, bringing its total inflows to $869.8 million since its launch on July 23.
According to Farside Investors, it marked the iShares Ethereum Trust’s (ETHA) third biggest flow day as investors looked to capitalize on Ether’s (ETH) 18% price fall on Aug. 5.
The $870 million in inflows puts BlackRock’s spot Ether ETF in the top six best-performers of all ETFs launched in 2024, according to Nate Geraci, president of The ETF Store.
BlackRock, Franklin Templeton, and VanEck have reportedly received preliminary approval from the US securities regulator, sources say.
The United States Securities and Exchange Commission has reportedly given “preliminary approval” to at least three asset managers for their spot Ether exchange-traded funds — adding fuel to speculation that the ETFs will begin trading as early as next Tuesday.
SEC approval is now only contingent on applicants submitting final offering documents to the regulator before the end of this week, “three industry sources” told Reuters in a July 15 report.
Those applicants included BlackRock, Franklin Templeton and VanEck, the sources said.
Fidelity’s Bitcoin fund led the pack with $378.7 million in net inflows on the U.S. spot Bitcoin ETFs second-highest joint net inflow day, according to preliminary data.
United States-based spot Bitcoin exchange-traded funds (ETFs) saw their second-best-ever joint net inflow day of $886.6 million, according to preliminary data.
The Fidelity Wise Origin Bitcoin Fund (FBTC) saw the largest inflow at $378.7 million, while BlackRock’s iShares Bitcoin Trust (IBIT) was second with $274.4 million, according to early data from Farside Investors.
The ARK 21Shares Bitcoin ETF (ARKB) was the third-best performer with $138.7 million in net inflows, Farside data shows.
CNBC contributor and crypto investor Brian Kelly said Solana is one of the “big three” coins, meaning it’s likely to be the next to receive ETF treatment.
Crypto investor and CNBC ‘Fast Money’ trader Brian Kelly sparked debate on Crypto X on Wednesday after suggesting that Solana (SOL) could be the next cryptocurrency to get a spot exchange-traded fund (ETF) in the United States.
Kelly made the prediction during the CNBC post-market talk show Fast Money on May 22, a day before the Securities and Exchange Commission is due to decide on at least one proposed spot Ether (ETH) ETF.
Some industry observers didn't agree with Kelly's prediction.
If a 19b-4 spot Ether ETF filing be approved, analysts anticipate the SEC won’t immediately sign off on the S-1, which is required for the products to launch.
Ether (ETH) spiked 18% over 24 hours amid new speculation that spot Ether exchange-traded funds could be approved this week — despite months of pessimism.
According to Bloomberg ETF analysts Eric Balchunas and James Seyffart, there has been “chatter” that the United States securities regulator is asking applicants to accelerate their 19b-4 filings.
This has prompted the pair to raise their approval odds from 25% to 75%.