Deep Dive: The Logic Behind BlackRock’s Ethereum ETF Raising $10B in 10 Days

1. Event Review

On July 18, 2025, BlackRock launched its first Ethereum spot ETF, named ETHA. In just 10 days, ETHA accumulated inflows of 10 billion dollars, making it the fastest after two Bitcoin ETFs, setting the industry’s third-fastest record.

2. Why institutional funds are pouring into Ethereum

• Diversification of asset allocation: Institutions have an increasing demand for digital asset allocation, with Ethereum as the second largest market capitalization cryptocurrency, possessing the dual characteristics of “hedging + yield.”
• Rich ecosystem applications: DeFi, NFT, Layer 2 and other scenarios continue to grow, providing long-term value support for Ethereum.
• Regulatory Marginal Improvement: The attitude of US regulators towards crypto assets is gradually becoming clearer, and the approval of spot ETFs injects confidence into the industry.

3. Market Performance After ETF Launch

• Capital inflow rhythm: On the first day of listing, the net inflow exceeded 5 billion USD, followed by an additional 5 billion USD over the next 9 days, totaling 10 billion USD.
• Premium and trading volume: The ETF premium once reached 1.2%, proving strong demand in the secondary market; the average daily trading volume doubled.

4. Latest Ethereum Price and Technical Analysis

• Real-time price: On July 28, 2025, the price of Ethereum is approximately $3,881.12/ETH, an increase of about 4.18% compared to July 25.
• Technical observation: The daily chart shows that ETH has firmly stood above the 50-day moving average for three consecutive days, and the risk of MACD divergence is still manageable.
• Key resistance level: In the short term, focus on the 4,000 USD round number, if broken, it may test 4,200 USD.

5. Beginner Investment Strategies and Risk Management

Strategy Suggestion:

• Batch positioning: Use DCA (Dollar Cost Averaging) method to reduce the impact of short-term volatility.
• Take profit and stop loss: set a take profit level of 10–15% and a stop loss level of 8–10% to respond steadily to market reversals.

Risk Warning:

• Market sentiment driven: Large capital inflows and outflows may lead to significant volatility, be cautious to avoid the risk of chasing peaks.
• Compliance risks: If there are significant changes in regulatory policies, the operational costs of the ETF may be reassessed.

6. Future Outlook

As more and more institutions increase their investment in Ethereum, ETFs have become an important entry point into the digital asset market. In the short term, the rapid fundraising of ETHA may drive more products to follow suit; in the long term, attention should be paid to the progress of the Ethereum 2.0 upgrade and the implementation of applications. New investors should remain cautious while seizing opportunities and allocate reasonably to achieve stable profits in this wave of institutional dividends.