BlackRock Ethereum ETF (ETHA) Holdings surpassed 3 million ETH, sweeping 1.23 million in July! AUM exceeded 11.1 billion USD, with stock prices approaching 30 USD.

BlackRock iShares Ethereum Trust (ETHA) has reached a significant milestone, with open interest surpassing 3 million ETH! The buying momentum in July was fierce, with over 1.23 million ETH purchased in a single month (accounting for 40%), and the latest single-day inflow of 59,000 ETH (approximately $223 million). The assets under management (AUM) skyrocketed to over $11.1 billion. The price of ETHA rose 50% over the month, nearing $30, with daily trading volume exceeding $1.1 billion. Meanwhile, the U.S. SEC has confirmed receipt of its ETH stake proposal, with experts expecting approval by the end of the year to potentially trigger a tsunami of institutional funds. The Ethereum ETF is rapidly capturing market share from the Bitcoin ETF.

ETHA Holdings exceeded 3 million ETH, with a 40% increase in July As the U.S. Securities and Exchange Commission (SEC) officially approves the physical redemption mechanism for Bitcoin and Ethereum ETFs, BlackRock's iShares Ethereum Trust (ETHA) sets a new record. With a recent single-day inflow of 59,000 ETH (approximately $223 million), the net open interest of the ETHA fund has surged past the 3 million ETH mark. Notably, 40% (over 1.23 million ETH) of the increase occurred in July of this year.

(Source: Trader T)

SEC Confirms ETH Stake Proposal, Year-End Approval Expectations Rise At the same time, the U.S. SEC has confirmed receipt of BlackRock's Ethereum ETF ETH stake proposal. Industry experts predict that the proposal is likely to be approved before the end of the year. If approved, this would be a significant breakthrough, allowing U.S. ETF issuers to generate additional income by staking their holdings of ETH, ultimately creating excess returns for investors. The SEC's approval could potentially attract massive institutional funds into the Ethereum ETF market.

ETHA stock price rose 50% monthly, approaching 30 dollars, with daily volume exceeding 1.1 billion Strong capital inflows have driven ETHA's stock price performance to shine. On Tuesday, the daily trading volume of ETHA stocks surpassed $1.1 billion, reflecting strong interest from traders. After surging over 50% in the past month, the price of ETHA is now approaching the key psychological level of $30.

Ethereum ETF captures market share, Bitcoin's dominance declines Eric Balchunas, a senior ETF strategist at Bloomberg, pointed out that Ethereum ETFs are rapidly rising, eating into Bitcoin's dominant share in the crypto ETF market. According to his analysis, Bitcoin ETFs currently account for 82% of the total assets under management (AUM) of crypto ETFs, a significant decline from 90% two months ago. Meanwhile, the share of Ethereum ETFs has climbed to 13% and continues to grow. However, Balchunas maintains his forecast that the share of Ethereum ETFs is unlikely to exceed 20%. Notably, the BlackRock Ethereum ETF (ETHA) has driven almost all of the inflow of funds into the entire Ethereum ETF space. Of the $218 million net inflow across the industry on Tuesday, only BlackRock contributed $223 million.

(Source: Eric Balchunas)

ETF demand crushes ETH net issuance, price firmly holds at $3800 Data shows that the net inflow of Ethereum ETF yesterday was approximately 59,000 ETH, while the net new issuance of the Ethereum network in a single day was only 2,399 ETH (approximately 9.1 million USD). This means that the demand for ETF is 24 times the net daily issuance of ETH! Supported by strong demand, as of the time of writing, the price of Ethereum shows resilience, maintaining above 3,800 USD. Recently, during market fluctuations, the continuous accumulation by Ethereum whale addresses (large holders) has also remained steady.

Conclusion: The explosive growth of BlackRock's Ethereum ETF (ETHA), combined with the potential approval of ETH staking by the SEC by the end of the year, is injecting strong institutional momentum into Ethereum. The Ethereum ETF is accumulating at a rate 24 times that of new coin production, with whales continuously entering the market, and market share continually expanding. Multiple signals indicate that ETH has great potential in the future. If the staking proposal is approved as scheduled, the influx of institutional funds may further elevate the ecological value of Ethereum.

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