Spot Ethereum (ETH) exchange-traded funds (ETFs) are close to breaking the $10 billion mark in inflows this month, as BlackRock’s ETHA makes its way to the spot of fourth-largest ETF by inflows in the last 30 days.
According to Farside Investors’ data, spot Ethereum ETFs accumulated $9.3 billion in inflows as of July 25. This represents a 120% increase from the $4.2 billion registered on July 1, marking 16 consecutive days of inflows.
The average daily inflow is $233 million, which would total over $930 million in the four trading days left in July.
Even if the average doesn’t repeat itself, the ETFs require $162.5 million daily to reach $10 billion, and 13 out of 16 trading days with inflows have surpassed this amount.
ETHA leads the inflows by a large margin, accounting for $9.34 billion in total flows, nearly four times the $2.35 billion in inflows of Fidelity’s FETH. In July, the BlackRock fund represented 91% of the total.
ETHA joins the “big boy club”
Bloomberg senior ETF analyst Eric Balchunas highlighted that ETFs took $97.6 billion in inflows in the past 30 days. ETHA took the spot as the fourth-largest ETF, showing nearly $3.9 billion in inflows, roughly 4% of the total.
Moreover, Balchunas noted that ETHA registered the 17th-largest trading volume among ETFs as of July 28, 11:25 am ET. He added:
“$ETHA 17th most traded ETF today Top 0.4% of all ETFs, first time I recall seeing it in there. Given it is up 5% today and still pretty new a lot of this volume is gonna convert to inflows.”
As of press time, ETHA’s daily trading volume stands at $1.35 billion, according to data from CoinMarketCap.
Rising conviction in Ethereum
Shawn Young, chief analyst at MEXC Research, assessed that the rising inflows are driven by both institutional whales and corporate treasury firms’ appetite for ETH.
In a note, he said this growth reflects the increased conviction in Ethereum’s utility, sustainability, and long-term staying power, particularly due to its use in tokenization, stablecoins, and on-chain settlement.
He concluded:
“The rise of Ether ETF AUM to over $20 billion, which represents almost 5% of Ether’s total market cap, speaks to this growing strategic asset role it’s now occupying in institutional portfolios.”