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BlackRock Ethereum ETF Hits $10 Billion AUM as ETH Price Eyes $4,000 Breakout


by Godfrey Benjamin
for Coinspeaker
BlackRock Ethereum ETF Hits $10 Billion AUM as ETH Price Eyes $4,000 Breakout

The iShares Ethereum Trust ETF (ETHA), which BlackRock manages, has successfully surpassed $10 billion in assets under management (AUM). This announcement comes exactly one year after the fund and others, such as those managed by Fidelity and Grayscale, were cleared for trading by the United States Securities and Exchange Commission (SEC).

The Insane BlackRock Ethereum ETF Move in 10 Days

Nate Geraci, a co-founder of the ETF Institute, took to X to spotlight the milestone on July 24.

In response to a post from Bloomberg’s Eric Balchunas, Geraci acknowledged that BlackRock’s ETHA is the third-fastest ETF to reach this level, after the spot Bitcoin ETFs by BlackRock (IBIT) and Fidelity (FBTC). More interestingly, the three fastest ETFs to hit $10 billion are crypto-based.

This rapid ascent of the Ethereum ETF reflects the obvious pivot in institutional adoption of digital assets. For a long time, Bitcoin BTC $119 346 24h volatility: 0.8% Market cap: $2.37 T Vol. 24h: $53.55 B has been at the forefront, leading other cryptocurrencies by a substantial margin. However, the increased adoption of Ethereum cements the altcoin’s place in the mainstream investment sector.

According to a referenced post from Eric Balchunas, this BlackRock Ethereum ETF moved from a $5 billion AUM to $10 billion in 10 days. On July 10, Coinspeaker reported that the fund was managing over $5 billion in assets, with 1.8 million ETH in its holdings.

At the time, it was also dominating most of the inflows from the broader Ethereum ETF market.

Just before these Ethereum ETFs were approved for trading, many enthusiasts had predicted that they would surpass market expectations and even outperform spot Bitcoin ETFs. However, the fund did not meet the expectations of market watchers in the first few months.

As it stands, Bitcoin ETFs are not performing as well as they initially did, while their Ethereum counterparts are delivering a stellar performance.

Ethereum Devs Ask to Increase Gas Limit

Generally, the Ethereum ecosystem has been recording massive growth and implementing key upgrades. Recently, the network’s developers revisited a proposal to increase the gas limit to boost Layer-1 throughput. They want the network’s block gas limit to be increased from 36 million to 45 million units.

The proposal is already backed by approximately 50% of validators, who believe that it would boost transaction throughput while easing congestion across the Layer-1 chain. In addition, Ethereum co-founder Vitalik Buterin recently reaffirmed the case for this increase, citing its potential to improve scalability and reduce fees for users.

Meanwhile, the price of Ethereum ETH $3 750 24h volatility: 4.0% Market cap: $452.67 B Vol. 24h: $49.20 B , which had been struggling to stay above $3,000 for several months, is now trading at $3,737.00 with a 3.45% increase within the last 24 hours. Ethereum’s 24-hour trading volume is 8.64% higher at $41.75 billion.

Additionally, its market capitalization is gradually approaching the key $500 billion mark. According to CoinMarketCap, this metric is currently pegged at $451.75 billion.

The post BlackRock Ethereum ETF Hits $10 Billion AUM as ETH Price Eyes $4,000 Breakout appeared first on Coinspeaker.

Read the article at Coinspeaker

Read More

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BlackRock Ethereum ETF Hits $10 Billion AUM as ETH Price Eyes $4,000 Breakout


by Godfrey Benjamin
for Coinspeaker
BlackRock Ethereum ETF Hits $10 Billion AUM as ETH Price Eyes $4,000 Breakout

The iShares Ethereum Trust ETF (ETHA), which BlackRock manages, has successfully surpassed $10 billion in assets under management (AUM). This announcement comes exactly one year after the fund and others, such as those managed by Fidelity and Grayscale, were cleared for trading by the United States Securities and Exchange Commission (SEC).

The Insane BlackRock Ethereum ETF Move in 10 Days

Nate Geraci, a co-founder of the ETF Institute, took to X to spotlight the milestone on July 24.

In response to a post from Bloomberg’s Eric Balchunas, Geraci acknowledged that BlackRock’s ETHA is the third-fastest ETF to reach this level, after the spot Bitcoin ETFs by BlackRock (IBIT) and Fidelity (FBTC). More interestingly, the three fastest ETFs to hit $10 billion are crypto-based.

This rapid ascent of the Ethereum ETF reflects the obvious pivot in institutional adoption of digital assets. For a long time, Bitcoin BTC $119 346 24h volatility: 0.8% Market cap: $2.37 T Vol. 24h: $53.55 B has been at the forefront, leading other cryptocurrencies by a substantial margin. However, the increased adoption of Ethereum cements the altcoin’s place in the mainstream investment sector.

According to a referenced post from Eric Balchunas, this BlackRock Ethereum ETF moved from a $5 billion AUM to $10 billion in 10 days. On July 10, Coinspeaker reported that the fund was managing over $5 billion in assets, with 1.8 million ETH in its holdings.

At the time, it was also dominating most of the inflows from the broader Ethereum ETF market.

Just before these Ethereum ETFs were approved for trading, many enthusiasts had predicted that they would surpass market expectations and even outperform spot Bitcoin ETFs. However, the fund did not meet the expectations of market watchers in the first few months.

As it stands, Bitcoin ETFs are not performing as well as they initially did, while their Ethereum counterparts are delivering a stellar performance.

Ethereum Devs Ask to Increase Gas Limit

Generally, the Ethereum ecosystem has been recording massive growth and implementing key upgrades. Recently, the network’s developers revisited a proposal to increase the gas limit to boost Layer-1 throughput. They want the network’s block gas limit to be increased from 36 million to 45 million units.

The proposal is already backed by approximately 50% of validators, who believe that it would boost transaction throughput while easing congestion across the Layer-1 chain. In addition, Ethereum co-founder Vitalik Buterin recently reaffirmed the case for this increase, citing its potential to improve scalability and reduce fees for users.

Meanwhile, the price of Ethereum ETH $3 750 24h volatility: 4.0% Market cap: $452.67 B Vol. 24h: $49.20 B , which had been struggling to stay above $3,000 for several months, is now trading at $3,737.00 with a 3.45% increase within the last 24 hours. Ethereum’s 24-hour trading volume is 8.64% higher at $41.75 billion.

Additionally, its market capitalization is gradually approaching the key $500 billion mark. According to CoinMarketCap, this metric is currently pegged at $451.75 billion.

The post BlackRock Ethereum ETF Hits $10 Billion AUM as ETH Price Eyes $4,000 Breakout appeared first on Coinspeaker.

Read the article at Coinspeaker

Read More

BlackRock’s ETH ETF Could Soon Offer Staking—SEC Filing Moves Forward

BlackRock’s ETH ETF Could Soon Offer Staking—SEC Filing Moves Forward

BlackRock's ETH ETF is by far the biggest fund tracking Ethereum's performance.
FTX Stakes $79M in ETH, Whales Are Buying, BlackRock’s ETHA Keep Growing

FTX Stakes $79M in ETH, Whales Are Buying, BlackRock’s ETHA Keep Growing

FTX stakes $79M in ETH after pulling $75M from Bybit, as BlackRock and new whales pus...