BlackRock’s iShares Ethereum ETF (ETHA) led the pack, attracting $1.79 billion—accounting for approximately 75% of total ETH ETF inflows in that period. 

ETHA also became the third-fastest ETF ever to reach $10 billion in assets under management, hitting the milestone in just 251 trading days. This achievement signals rising confidence and expectations around Ethereum. Fidelity’s Ethereum Fund (FETH) had its best-performing day on Thursday, July 25, recording $210 million in net inflows—4% higher than its previous record set on December 10, 2024. 

Institutions Are Accumulating ETH 

Interest in Ethereum isn’t limited to ETFs. BitMine Immersion Technologies purchased $2 billion worth of ETH in the past 16 days, making it the largest institutional ETH holder. Total ETH held by public companies now stands at 2.31 million, representing 1.91% of Ethereum’s circulating supply. This figure continues to rise and has the potential to put upward pressure on market supply. 

Galaxy Digital CEO Michael Novogratz predicted that Ethereum would outperform Bitcoin over the next six months and suggested ETH could reach $4,000. He also warned that large-scale purchases by firms like BitMine and SharpLink Gaming could trigger a supply shock in the market. 

Cooling Signs for Bitcoin ETFs 

Bitcoin ETFs ended their 12-day inflow streak on July 22, posting $131 million in net outflows. This came after they had attracted $6.6 billion during the previous 12-day run. Swissblock Research stated the trend may persist, noting, “ETH is positioning itself as the next cycle leader.” The strong performance of Ethereum ETFs supports this view.

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Ethereum ETFs Continue Their Climb

Spot Ethereum ETFs attracted substantial interest from investors. According to recent data, Ethereum ETFs experienced a net inflow of $533.8 million. This significant figure reinforces investor confidence in Ethereum-based products and has had a notable impact on ETH’s market capitalization. 

The strong demand for Ethereum ETFs signals continued investor belief in ETH’s potential. Among daily net inflows, major players like BlackRock’s ETHA led the way with a one-day inflow of $426.22 million. Grayscale’s ETH fund followed with $72.64 million, while Fidelity’s FETH drew $35.01 million. 

The total net assets of Ethereum ETFs continue to rise. ETHA’s assets reached $10.03 billion. Grayscale ETH now holds $2.40 billion in net assets. Overall, cumulative net inflows into Ethereum ETFs have reached $8.32 billion—indicating widespread adoption. Trading volumes also increased, with a total daily trading volume of $1.97 billion. 

Bitcoin ETFs: Recent Trends and Comparison

Meanwhile, a different trend was observed in Bitcoin ETFs. As of July 22, there was a net outflow of $67.93 million from Bitcoin ETFs. This trend suggests a shift toward portfolio diversification. Bitcoin ETFs currently have a cumulative net inflow of $54.55 billion and total daily trading volume of $4.01 billion. 

This comparative data underscores the dynamic nature of the crypto market. Strong inflows into ETH ETFs could positively influence Ethereum’s future performance, while the outflows from Bitcoin ETFs suggest investors are exploring alternative assets.

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Although BlackRock just has two funds—IBIT (spot Bitcoin) and ETHA (spot Ethereum)—the combined assets under management (AUM) of the two funds at $21.6 billion is somewhat more than the $21.3 billion held by Grayscale’s four funds, according to blockchain intelligence firm Arkham.

Morgan Stanley recently revealed that it sold almost its whole $269.9 million GBTC stake and currently owns 5.5 million shares of IBIT, valued at roughly $187.1 million at current rates. Goldman Sachs last week also revealed holdings of around 7 million IBIT shares at almost $235 million at current prices, while it also has roughly $35 million worth of Grayscale’s converted fund and about $150 million in shares of other spot Bitcoin ETFs.

BlackRock’s IBIT spot Bitcoin ETF has only had one day of net outflows since its debut, noted Nate Geraci, president of investment adviser The ETF Store, on X. Though the ETF has also recorded 26 days of zero net inflows or outflows up to the present, SoSoValue’s data supports Geraci’s claim.

Although IBIT leads significantly over Grayscale’s Bitcoin ETFs, BlackRock’s spot Ethereum offering ETHA is only the third biggest such fund by assets under management based on SoSoValue statistics. Though it has had four days of net zero trading since its introduction over one month ago on July 22, ETHA has not yet logged any days of negative outflows.

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