BlackRocks iShares Ethereum Trust Hits $10B Milestone as ETH Targets $4,000

Source: Bloomberg | Eric Balchunas

On the other hand, inflows into the BlackRock Bitcoin ETF have also slowed down, which highlights the classic institutional shift from BTC to ETH at the moment. For the first time in many trading sessions. BlackRocks ETHA saw zero inflows on Thursday.

Despite this, net inflows into US spot Ether ETFs continued, with more than $231 million recorded yesterday. Of these, Fidelity Ethereum Fund (FETH) alone contributed to more than $203 million, keeping the ETF market alive. Furthermore, the net inflows across all US ETF issuers since inception have also reached closer to $9 billion.

Approaching the 3 Million ETH Milestone

BlackRock has been in the race along with other ETH treasury firms. Since the beginning of this month in July so far, the iShares Ethereum Trust (ETHA) has accumulated a whopping 1 million plus ETH from the open market. As a result, its total ETH holdings have now surged past 2.8 million. If the same pace of accumulation continues, ETHA fund could probably hit the milestone of 3 million ETH holdings by the end of July.

As mentioned in our previous report, asset manager Bitwise noted that theres a structural demand surge for ETH recently. ETH Treasury firms like SharpLink and Bitmine Technologies have swallowed 300,000 ETH each within a month. They have also pledged additional funds for more purchases in the future.

The ETH price has seen some volatility recently, oscillating between $3,600-$,3900. Analysts call the recent pullback healthy following a massive run-up in July. Market veterans like Arthur Hayes are confident of ETH price rally to $10K by the end of 2025.