BlackRock Ethereum ETF (ETHA) Acquires Over 50,000 ETH for 4 Consecutive Days, Surpasses $6B Milestone
The BlackRock Ethereum ETF (ETHA) has been aggressively accumulating ETH, securing more than 50,538 ETH valued at $151.97 million on Monday, July 14. This marks the fourth consecutive day that the asset manager has added 50,000 ETH to its portfolio, pushing its total holdings beyond 2 million coins.
Key Market Insights:
- The net inflows into the BlackRock Ethereum ETF have exceeded $6.4 billion, indicating robust institutional interest in the ETH fund.
- Ethereum has witnessed 12 consecutive weeks of inflows totaling $990 million, representing 19.5% of Ethereum’s Assets under Management (AuM).
- Nasdaq-listed SharpLink Gaming (SBET) intensifies competition by purchasing 84,953 ETH valued at $255 million within just 6 days.
Competitive Landscape: BlackRock vs. SharpLink in ETH Acquisitions
The BlackRock Ethereum ETF faces competition from SharpLink Gaming (NASDAQ: SBET), which recently acquired 84,953 ETH worth $255 million in a span of 6 days. This move follows SharpLink’s addition of 24,371 ETH valued at approximately $73.21 million, bringing its total ETH holdings to 290,000 coins.
Additionally, the BlackRock Bitcoin ETF has seen significant inflows, surpassing $6.4 billion, underscoring the escalating demand for the ETH fund among institutional investors. CoinShares data reveals Ethereum’s remarkable 19.5% share of its AuM from inflows over the past 12 weeks, compared to Bitcoin’s 9.8%.
The BlackRock Ethereum ETF’s total ETH inflows have now exceeded $6.4 billion, according to Farside Investors’ data. On July 14, the ETF recorded a trading volume of 0.8 billion shares, reflecting its growing prominence in the market.
As the battle for ETH intensifies between BlackRock and SharpLink, these acquisitions highlight the escalating institutional interest in Ethereum and the growing significance of ETH-based investment products in the market.
