Continued Inflows Power Spot Ether ETFs to Record 13-Day Streak
Spot Ethereum (ETH) exchange-traded funds (ETFs) maintained their strong upward momentum, recording a net inflow of $533.87 million on Tuesday, extending their consecutive inflow streak to a record 13 trading days, data from SoSoValue indicates.
Market Leaders: ETHA and FETH Dominate Flows
BlackRock’s iShares Ethereum Trust (ETHA) spearheaded the surge, attracting a massive $426.22 million in daily net inflow. The fund’s assets now surpass $10 billion, establishing its dominant position in the ETH ETF market. Fidelity’s FETH registered $35 million in net inflows.
Analysts point to falling Bitcoin dominance and increasing institutional appetite for ETH exposure as key drivers behind the sustained inflows into spot ETH ETFs.
“As liquidity deepens and macro conditions hold, this demand trend is likely to endure,” noted Vincent Liu, Chief Investment Officer at Kronos Research.
The cumulative net inflow across all Spot Ether ETFs has climbed past $8.32 billion, significantly up from $4.25 billion at the start of the streak on July 2. Total net assets locked in these products have reached $19.85 billion, representing 4.44% of Ethereum’s market capitalization.
13-Day Streak Totals Over $4 Billion
The total net inflows during the 13-day streak beginning July 3 exceed $4 billion. This period also included record-breaking flows, notably $726.74 million on July 16 and $602.02 million the following day.
Lookonchain reported that five wallets withdrew a combined 76,987 ETH ($285 million) from Kraken on Wednesday, suggesting reduced exchange supply.
Institutional Appetite Persists
Specialists highlight the discrepancy between Bitcoin and Ethereum allocation in existing exchange-traded products. “ETP Investors remain significantly underweight Ethereum vs. Bitcoin: Although ETH’s market cap is about 19% the size of BTC, Ethereum ETPs have amassed less than 12% of the assets of Bitcoin ETPs,” Matt Hougan, CIO at Bitwise, wrote.
Hougan anticipates accelerating corporate ETH holdings, estimating ETFs and corporate wallets could demand up to $20 billion worth of ETH over the next year.
Meanwhile, Spot Bitcoin (BTC) ETFs faced net outflows of $67.93 million on Tuesday. Withdrawals were concentrated in Bitwise’s BITB ($42.27 million) and Ark’s ARKB ($33.18 million), though Grayscale’s GBTC saw modest inflows.
