Yahya 
BlackRock’s spot Ether exchange-traded fund (ETF) saw a significant inflow of $109.9 million on August 6, bringing its total inflows to $869.8 million since its launch on July 23.
Investor Reaction to Market Downturn
According to Farside Investors, this marked the third-largest inflow day for the iShares Ethereum Trust as investors sought to capitalize on Ether’s 18% price drop on August 5. ETF Store President Nate Geraci noted that the $870 million inflow positions BlackRock’s spot Ether ETF among the top six best-performing ETFs launched in 2024. Four of the other top-performing ETFs are spot Bitcoin ETFs, including BlackRock’s IBIT.
Performance and Market Trends
BlackRock’s ETHA also recorded an inflow of $47.1 million on August 5 and 6, during the industry’s “Black Monday,” resulting in the liquidation of over $600 million in leveraged long positions. Despite the market crash, the combined inflows for ETHA on August 5 and 6 ranked among the top 10% of ETFs launched this year, Geraci stated. This success came despite spot Ether ETF issuers not offering staking yields or options trading.
Broader Market Impact
Spot Ether ETFs had their best day since their July 23 launch, with a combined inflow of $98.4 million on August 6. Fidelity’s spot Ethereum ETF reported the second-largest inflow of $22.5 million on August 6, while the Grayscale Ethereum Mini Trust and Franklin Ethereum ETF saw inflows of $4.7 million and $1 million, respectively. Anthony Sassano, host of the Ethereum show The Daily Gwei, commented, “TradFi is slurping up that ETH.”
However, the higher-fee Grayscale Ethereum product ETHE was the only spot Ether ETF to record an outflow of $39.7 million. Despite the strong performance of ETHA, spot Ether ETFs experienced a total outflow of $473.9 million when accounting for the $2.2 billion outflow from Grayscale’s ETHE.
Ether showed a partial recovery, rising by 13.5% to $2,494 after hitting a low of $2,197 on August 5, according to CoinGecko data.
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