BlackRock's Ethereum fund ETHA has entered the market with a purchase of tens of millions of euros, holding over 3,000 Ether coins.

Tonight, the Ethereum spot ETF is about to be listed, and the asset management giant BlackRock's Ethereum fund ETHA has entered the market with tens of millions of dollars, holding 3,030 Ether coins.

BlackRock Emphasizes the Utility of Ethereum

As the Ethereum spot ETF is set to debut today, Jay Jacobs, head of thematic and active ETFs at BlackRock in the U.S., also recorded a video introducing the Ethereum spot ETF on BlackRock's website. He was also the one who introduced the Bitcoin spot ETF when it launched, mentioning:

The main appeal of Bitcoin lies in its scarcity, while the appeal of Ethereum lies in its utility.

Ethereum is a highly programmable blockchain that provides infrastructure for various assets and use cases. Ethereum can be seen as a global application platform that enables applications called smart contracts to operate without the need for a central intermediary. Transactions on Ethereum require payment of transaction fees in the native token of the network, Ether (ETH). As more people adopt digital assets, investor interest in Ethereum continues to grow.

This is why BlackRock has launched the ETHA iShares Ethereum Trust ETF, which provides investors with convenient opportunities to invest in Ether. ETHA allows investors to access Ether, the native token of Ethereum, in traditional brokerage accounts. It helps eliminate the operational burdens associated with directly holding Ether, as well as potential high transaction costs and tax reporting complexities. ETHA is managed by BlackRock, the world's largest asset management company, and has undergone years of technical integration with Coinbase Prime, the world's largest institutional digital asset custodian, to provide investors with the best investment opportunities.

ETHA Attracts Millions in Funding

According to the BlackRock official website data, the asset value of its Ethereum spot ETF, ETHA, as of July 22, is $10.56 million, holding approximately 3,030 ETH.

Seven Ethereum Spot ETFs Confirmed to Launch on 7/23

Seven Ethereum spot ETFs, including Franklin Templeton, VanEck, Bitwise, 21Shares, Fidelity, BlackRock's iShares, and Invesco, have obtained approval from the U.S. Securities and Exchange Commission (SEC) yesterday. The Ethereum spot ETFs will officially debut at the opening of the U.S. stock market today! Meanwhile, Grayscale's ETHE/ETH is still pending approval, and Bloomberg ETF analyst James Seyffart believes it still has a chance of approval in the early hours of the listing.