Gate Geraci, president of ETF Store, tweeted that BlackRock iShares Ethereum ETF (ETHA) has surpassed $1 billion in assets under management and is now among the top 20 of all 3,700+ ETFs.

BlackRock ETHA's Assets Exceed $1 Billion

According to SoSoValue, the total assets of nine spot Ethereum ETFs in the US amount to $7.44 billion, accounting for 2.3% of Ethereum's total market capitalization. Although Grayscale's ETHE has seen an outflow of $2.9 billion so far, its assets remain the largest at $45.1 billion, while its spin-off, Grayscale Mini Ethereum Trust ETH, has assets of $10.6 billion. BlackRock's ETHA currently ranks third, having attracted $11.3 billion in funds to date, with assets reaching $10.4 billion.

Ethereum ETFs and ETH's Performance

Looking back at the application process for spot Ethereum ETFs, since BlackRock joined the fray in November 2023, ETH has rallied from its low point to break through $2,000, reaching a recent high of $4,093 in March. With the SEC approving Form 19b-4 in May and the official listing on July 23, ETH's trend seems to have turned into a "sell the news" scenario, dipping to around $2,100 in August, highlighting the significant impact of expectations on ETH's price.

The recent failure of spot Ethereum ETF options and concerns about Ethereum's long-term value have raised questions about whether Ethereum, often dubbed "digital silver," can attract more funds and drive up its price, which may be the biggest challenge facing ETH.

Disclaimer: None of the information contained here constitutes an offer (or solicitation of an offer) to buy or sell any currency, product or financial instrument, to make any investment, or to participate in any particular trading strategy.