Key Highlights
Ethereum ETFs made headlines on August 11th, attracting a record $1.019 billion in daily inflows, with BlackRock’s ETHA leading the pack with $10 billion in assets, driving ETH’s surge past $4,279.
Ethereum [ETH] achieved a significant milestone on Wall Street as U.S. spot ETH ETFs received a remarkable $1.019 billion in net inflows on August 11th, surpassing their Bitcoin [BTC] counterparts by a wide margin.
BlackRock’s iShares Ethereum Trust (ETHA) played a key role in this surge, crossing the $10 billion mark in net inflows.
This achievement comes just three months after the fund doubled its previous total to $5 billion, now holding over 3.3 million ETH in its portfolio.
BlackRock’s ETHA Sets Records
On August 11th, BlackRock’s iShares Ethereum Trust (ETHA) witnessed its highest single-day inflow since its launch, adding 149,168 ETH valued at around $640.68 million.
The increased investor activity propelled ETHA’s daily trading volume to an impressive $1.8 billion.
The fund’s share price also reached a new high, hitting $33.02 after a 5% surge on August 11th.
In the last month alone, ETHA’s value has surged by 41%, skyrocketing nearly 200% from its April low of $11.50.
Analysts attribute this momentum to consistent ETH accumulation during June and July.
While the broader digital asset market saw mixed performance with Bitcoin dropping below $120,000, Ethereum’s bullish trend remained strong.
ETH and BTC Price Movements
In the past week, ETH surged by 19%, outpacing Bitcoin’s modest 4% gain.
This impressive performance has sparked speculation that Ethereum may soon reach a new all-time high.
At the time of writing, ETH was trading at $4,279.18, up 2.18% in the last 24 hours, according to CoinMarketCap.
In comparison, Bitcoin was down 1.18% over the same period, trading at $118,293.89.
Vitalik Buterin’s Vision
Adding to the excitement, Vitalik Buterin outlined his long-term vision for Ethereum’s future this week.
He highlighted ultra-light nodes, built-in privacy, seamless self-custody, and a fully verified tech stack, encompassing everything from decentralized apps to the hardware they operate on.
Buterin believes this evolution will establish trustless security as the norm in society, likening outdated “trust me” systems to drinking unfiltered tap water.
Meanwhile, market observers noted an unexpected move by BlackRock.
On August 5th, Arkham Intelligence reported a significant blockchain transaction by the asset manager.BlackRock transferred 2,544 BTC and 101,975 ETH to Coinbase Prime from ETF-related holdings.
This stirred speculation about whether it was a routine action or a strategic repositioning, adding intrigue to an already eventful week for Ethereum.