Photo credit: Jeenah Moon/Bloomberg

BlackRock’s iShares Ethereum Trust (ETHA), one of the US-listed Ether exchange-traded funds (ETFs), is about to hit $1 billion in cumulative net inflows, according to the data from SoSoValue.

BlackRock’s ETHA was among the other ETH ETFs that experienced an inflow on Aug. 13. The Fidelity Ethereum Fund (FETH) and Invesco Galaxy Ethereum ETF (QETH) were the two other investment products that witnessed an inflow of $5.41 million and $813.690.

Meanwhile, Grayscale Ethereum Trust (ETHE) was the only Ether-backed ETF that recorded an outflow of  $31.02 million, adding to its total outflow of approximately $2.33 billion. However, Grayscale’s second investment product Grayscale Ethereum Mini Trust (ETH) continues to record a positive flow of funds in total. 

Although ETHA has been witnessing net outflows, the US spot ETH ETFs have registered a total outflow of $376.67 million as of Aug. 13. In comparison, Bitcoin ETFs have recorded a total inflow of $17.40 billion since their January debut.

After the crypto sell-off event on Aug.5, Ether (ETH) has been recovering gradually. The altcoin leader was able to escape from the oversold region by Aug. 8 after it closed its trade on $2,680.94. However, during the weekend, ETH had fallen below the $2,600 border. 

On Aug. 13, the altcoin experienced a 13% spike, which helped its value to cross the $2,700 barrier. Ether (ETH) is currently priced at $2,743.42 after spiking by 4.7% in 24 hours, while its market cap is valued at $330.62 billion, according to data from CoinGecko. 

Read more: Spot Ether ETFs record nearly $100M inflows led by Blackrock’s ETHA