Ethereum ETFs Hit New Highs: BlackRock Leads the Charge!

Hang on to your hats, crypto fans! The total value of Ethereum stashed away in U.S. spot Ethereum ETFs just smashed through the roof, hitting a mind-blowing all-time high. And guess who's at the top of the heap? None other than the powerhouse, BlackRock!

Get this: the latest on-chain data is screaming that these U.S. spot Ethereum ETFs are now sitting pretty with a whopping 3.91 million ETH in their wallets, clocking in at a staggering $10.56 billion. And the best part? This surge in assets under management (AUM) is riding a wave of relentless net inflows over the past few weeks. Investors just can't get enough!

In just the last 19 days, these funds have raked in over $1.37 billion in net inflows. That's a cool 35% of their total haul since they first hit the scene. Sure, there was a tiny hiccup on June 13 with a $2.1 million outflow, but let's be real—that's just a blip on the radar. The momentum is still going strong!

And who's the big kahuna in this ETF jungle? You guessed it—BlackRock's ETHA is ruling the roost with a massive 41% of the total AUM, holding onto about 1.58 million ETH worth a jaw-dropping $4.1 billion. Hot on their heels is Grayscale's ETHE with 29.5%, while Grayscale Mini's ETH and Fidelity's FETH are holding their own with 12.8% and 12% respectively.

BlackRock isn't just sitting pretty; they're on fire. Their consistent positive performance often sees them leading the pack in daily net gains across the ETF group. It's like déjà vu all over again, echoing the success of their Bitcoin ETF IBIT, which just rocketed to become the fastest exchange-traded fund in history to zoom past $70 billion in assets under management.

But wait, there's more! BlackRock isn't just riding the wave; they're making waves too. They've been snapping up ETH left, right, and center, including a recent $50 million ETH purchase that had analytics firm Arkham Intelligence doing a double-take.

Now, here's the twist—Ethereum itself is taking a bit of a tumble. Over the last 24 hours, it's down about 3%, hovering just above $2,500 as we speak. It's taken an 11% nosedive from its monthly high of $2,869 and is down roughly 8% over the past week. But hey, with ETFs like these, who needs the token itself to soar?