BlackRock Buys More ETH as Ethereum Gas Fees Hit Record Lows

• BlackRock’s iShares Ethereum Trust bought $10.7 million in ETH on Thursday.
• Ethereum’s gas fee plunged below 1 gwei (around $0.06) on Friday.
• JPMorgan claims that ETH has underperformed because of “intense” competitors.

Leading digital asset management firm BlackRock’s spot Ethereum exchange-traded fund (ETF), ETHA, added ETH worth a substantial $10 million on Thursday. Meanwhile, the price of the digital asset failed to break the $3,000 price level in the past few days, despite the broader market recovering from sell offs originating from fears of recent tariff impositions. 

On February 6th, ETHA added 3,840 ETH worth around $10.7 million and as per SoSoValue data, the iShares Ethereum Trust was the only spot ETH ETF with any inflow. 

No transaction was recorded for other Ethereum ETFs, including Grayscale’s ETHE on Thursday. The cumulative net inflow into US spot ETH ETFs stands at a significant $3.18 billion which also includes $3.93 billion worth of outflows from ETHE.

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Ethereum Gas Fees Plummet

On the other hand, the Ethereum gas fees (the cost of …

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