BlackRock’s Ethereum ETF, ETHA, bought $251.4 million worth of Ethereum over the past 20 trading days. U.Today, a blockchain media outlet, reported on Thursday that ETHA added about $13.9 million more in recent trades.
Ethereum has traded sideways in recent weeks without a clear direction. Uncertainty has kept overall flows into Ethereum ETFs weak, but BlackRock has consistently attracted money over the past month.
Arkham Intelligence on-chain data show ETHA has not recorded a single outflow over the past 20 trading days. ETHA has therefore logged net inflows for 20 straight trading days despite continued price volatility.
Other Ethereum ETFs, however, saw outflows over the same period. As a market correction increased downward pressure across the crypto market, redemptions occurred in several funds, and BlackRock maintained a relative edge in the Ethereum ETF market.
Hyunwoo Choo
cookinpapa@d-today.co.kr