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BlackRock Ethereum ETF Nets $108M Inflows As Nasdaq Seeks ETHA Options Trading

The BlackRock Ethereum ETF single-handedly leads total ETF inflows while planning for options trading through Nasdaq for ETHA ahead this year.
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BlackRock Ethereum ETF Nets $108M Inflows As Nasdaq Seeks ETHA Options Trading

Highlights

  • BlackRock and Nasdaq filed for approval to ETHA options trading with the US SEC.
  • BlackRock Ether ETF grabs a spot in the 10% of best ETF launches in 2024.
  • Fidelity FETH also saw inflows as institutional buying interest resumes.

Despite the global macros headwinds this week, the spot Ethereum ETFs have seen strong inflows with BlackRock’s ETHA leading the show. On Tuesday, August 6, the BlackRock Ether ETF netted more than $108 million in inflows leading the pack by a huge margin.

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BlackRock Ethereum ETF Leads the Inflows

Despite the black Monday event where Japan’s Nikkei and Topix Indexes tanked by a staggering 12%, the BlackRock Ethereum ETF (ETHA) managed to pull over $57 million in inflows that day. On Tuesday, the net inflows across all spot Ether ETFs doubled to $99 million despite Grayscale ETHE’s $39.7 million in outflows. Besides, the Fidelity Ether ETF FETH also saw $22 million in inflows.

ETF Store President Nate Geraci said that the BlackRock Ethereum ETF could occupy a space among the 10% of top ETF launches this year in 2024 with such massive inflows. BlackRock’s Bitcoin ETF IBIT already occupies a spot in the top ten ETF launches this year. Besides, the Bitcoin ETF outflows have also been on a dropping trajectory hinting at positive developments ahead.

Also Read: Bitwise Bitcoin ETF: $40B Wealth Manager Taps BITB For BTC Investments

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Nasdaq Seeks Approval for ETHA Options Trading

On Tuesday, August 6, the Nasdaq International Securities Exchange along with BlackRock, proposed a rule change to the USE SEC to allow the options trading of the iShares Ethereum Trust (ETHA). The filing submitted to the SEC reads:

“The Exchange believes that offering options on the Trust will benefit investors by providing them with an additional, relatively lower cost investing tool to gain exposure to spot ether as well as a hedging vehicle to meet their investment needs in connection with ether products and positions.”

Comments on the proposal are due within 21 days of the filing. The final decision by the US SEC on the proposal will happen sometime around early April 2025. On Tuesday, the Ethereum price bounced back above $2,500 and the global market staged a strong recovery with the US recessionary fears abating. Crypto market veterans like Justin Sun have been buying the Ethereum dips.

Also Read: Ronin Network Recovers $10M ETH, USDC Recovery Underway

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Bhushan Akolkar

Bhushan is a seasoned crypto writer with over eight years of experience spanning more than 10,000 contributions across multiple platforms like CoinGape, CoinSpeaker, Bitcoinist, Crypto News Flash, and others. Being a Fintech enthusiast, he loves reporting across Crypto, Blockchain, DeFi, Global Macros with a keen understanding in financial markets. 

He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills. Bhushan has a bachelors degree in electronics engineering, however, his interest in finance and economics drives him to crypto and blockchain.

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