Ethereum ETF Record $78M In Inflows Led By BlackRock’s ETHA

The Ethereum ETF have recorded their 11th consecutive day of inflows, as institutional interest in the largest altcoin by market cap rises. The inflows on June 2 were thanks to BlackRock and Fidelity’s ETFs, which collectively accounted for the $78 million that investors invested in ETH on that day.

Ethereum ETF Record $78M In Inflows With BlackRock Leading The Way

SoSo Value data shows that these ETFs recorded a daily total net inflow of $78.17 million on June 2. With this, these funds now have a cumulative total net inflow of $3.12 billion since they launched last year.

BlackRock’s iShares Ethereum Trust ETF (ETHA) led the way on June 2, with an inflow of $48.40 million, accounting for more than half of the inflows on the day. Meanwhile, Fidelity’s Ethereum Fund (FETH) was the only other fund that took in inflows on June 2, with $29.78 million flowing into the fund.

This marks the 11th consecutive day on which the Ethereum ETFs have recorded an inflow, with rising institutional demand for ETH. As CoinGape reported, these Ethereum funds saw $70.2 million in inflows on May 31 amid the recent push for staking in these Ethereum ETFs.

BlackRock is currently leading the way among these ETF issuers, with the most assets under management (AuM). SoSo Value data shows that ETHA boasts $3.64 billion in net assets. Grayscale’s ETHE comes in second place, with $2.88 billion in net assets. Grayscale’s ETH, Fidelity’s FETH, and Bitwise’s ETHW complete the top 5 list, with $1.27 billion, $1.13 billion, and $245.99 million, respectively, in net assets.

Bitcoin ETFs Continue Outflows Streak

Unlike the Ethereum ETFs, the Bitcoin ETFs have suffered a different fate, as they continue their outflow streak. SoSo Value data shows that these BTC ETFs recorded an outflow of $267.52 million on June 2, marking the third consecutive day of outflows.

BlackRock’s iShares Bitcoin Trust ETF (IBIT) recorded the most outflows, with $130.44 million leaving the fund. The fund still boasts a net asset of $68.83 billion. Bloomberg analyst Eric Balchunas predicts that BlackRock’s IBIT will surpass Satoshi’s Bitcoin stash by 2026.

Meanwhile, Fidelity’s FBTC, Grayscale’s GBTC, and Ark Invest’s ARKB recorded outflows of $50.11 million, $16.47 million, and $73.91 million, respectively. Bitwise’s BITB was the only Bitcoin ETF that recorded an inflow on the day, with $3.41 million flowing into the fund.