tl;dr
BlackRock's Ethereum ETF, ETHA, has surpassed $1 billion in cumulative net inflows, solidifying its position as a leading choice for investors. Competing products from Fidelity, Bitwise, and Grayscale fall behind, with combined allocations of around $900 million. Despite market volatility, ETHA has ...
BlackRock’s iShares Ethereum Trust ETF (ETHA) crosses $1 billion in cumulative net inflows, outperforming competitors and solidifying its position as investors’ top choice in the spot Ethereum ETF space. Despite market volatility, BlackRock’s ETHA has consistently attracted significant inflows, overshadowing competitors like Fidelity’s Ethereum Fund, Bitwise Ethereum ETF, and Grayscale Ethereum Mini Trust.
BlackRock’s spot Ethereum ETF, with no outflows since its launch, surpasses the performance of its Bitcoin ETF counterpart, reaching $1 billion in net inflows in 21 days compared to the Bitcoin ETF’s five days. Grayscale’s Ethereum Trust faces significant outflows due to its high expense ratio of 2.5%, while BlackRock’s ETHA maintains a competitive expense ratio of 0.25%, contributing to its success.
BlackRock’s ETHA not only outshines its Ethereum ETF counterparts but also helps BlackRock overtake Grayscale as the leading asset manager in the total crypto assets under management (AUM) space. BlackRock's Ethereum ETF, ETHA, has surpassed $1 billion in cumulative net inflows, solidifying its position as a leading choice for investors. Competing products from Fidelity, Bitwise, and Grayscale fall behind, with combined allocations of around $900 million. Despite market volatility, ETHA has seen consistent inflows, outperforming its competitors.
BlackRock's Bitcoin ETF achieved $1 billion in inflows within five trading days, while it took ETHA 21 days. Grayscale's Ethereum Trust experienced significant outflows due to a high expense ratio of 2.5%, whereas ETHA and Fidelity's offerings have lower fees. BlackRock's success with ETHA also led to overtaking Grayscale in total crypto assets under management.
BlackRock’s spot Ethereum ETF crossed $1 billion in cumulative net inflows, cementing the Wall Street behemoth’s crypto offering as investors’ early go-to pick. The iShares Ethereum Trust ETF (ETHA) debuted in late July alongside products from seven other asset managers. Fidelity’s Ethereum Fund is the current runner-up to ETHA, with $367 in cumulative net inflows. That’s followed by $310 million for the Bitwise Ethereum ETF and $227 million for the Grayscale Ethereum Mini Trust. When combined, the three products account for around $900 million in allocations, still collectively coming short of ETHA’s individual progress.
BlackRock’s spot Ethereum ETF hasn’t seen any outflows since its debut, despite rockiness in the crypto market. When Ethereum’s price plummeted 22% on August 5, investors shoved $47 million into BlackRock’s product—and a further $100 million the next day. On the product’s best day, when it pulled in $118 million on July 30, Fidelity’s Ethereum Fund saw just $8.6 million worth of inflows, per data from Farside Investors.
BlackRock’s spot Bitcoin ETF surpassed $1 billion in cumulative net inflows within the span of five trading days, while it took ETHA 21 days to cross that threshold. Meanwhile, spot Ethereum ETFs have bled $440 million as a whole, led by Grayscale’s Ethereum Trust, which has seen $2.4 billion in cumulative net outflows since its upgrade from a closed-end fund. Analysts have pointed to a high expense ratio for Grayscale’s product, as the asset manager charges a management fee of 2.5% to investors.
ETHA’s early success isn’t limited to comparisons centered around the second-largest cryptocurrency. Last week, the fund’s inflows helped BlackRock to dethrone Grayscale in terms of total crypto assets under management (AUM). Grayscale had previously served as the largest asset manager in crypto for years.
More about Robinhood Markets Inc
Stock Analysis: Robinhood Markets Inc
Sector: Finance
Industry: Security Brokers, Dealers & Flotation Companies
Market Cap: $17,543,166,000
Stock Price: $63.97
Dividend Yield: None
P/E Ratio: 0.31
EPS: $2.545
Beta: 0.13
Volume: 2,238,000,000
Revenue: $23.97 billion
Net Income: $6.6 billion
ROE: 0.403