Ethereum exchange-traded funds (ETFs) in the United States posted a historic achievement on August 11, pulling in $1.019 billion in net inflows and shattering the prior record of $726.6 million.
BlackRock’s (NYSE:BLK) iShares Ethereum Trust (NASDAQ:ETHA) dominated the day’s activity, attracting roughly $640 million—its largest daily intake since inception. The Fidelity Ethereum Fund (AMEX:FETH) followed with $276.9 million, also marking a personal best. Additional inflows came from funds including Grayscale (AMEX:ETHE), VanEck (AMEX:ETHV), Franklin Templeton (AMEX:EZET), Bitwise (AMEX:ETHW), and 21Shares (AMEX:CETH), with amounts ranging from $3.9 million to $66.6 million.
As a result, total cumulative inflows for Ethereum ETFs climbed to $10.83 billion, while assets under management reached $25.71 billion—equivalent to 4.77% of Ether’s total market capitalization. The performance far exceeded that of Bitcoin ETFs, which drew $178 million on the same day.
Ether (COIN:ETHUSD) touched $4,368.57 during the session, its highest price since December 2021, before closing down 0.58% at $4,230.60. Analysts credit optimism over a potential Federal Reserve interest rate cut and the conclusion of the SEC’s lawsuit against Ripple for giving the altcoin market an additional boost.
Nate Geraci, president of the ETF Store, observed that institutional investors were initially slow to embrace Ethereum due to its more complex value proposition compared to Bitcoin, but now acknowledge its position as “the backbone of future financial markets.” Bloomberg’s Eric Balchunas expects this momentum to spur further ETH ETF launches.
The surge in interest isn’t limited to ETFs. BitMine acquired 317,126 ETH in a single week, lifting its total holdings to 1.15 million ETH valued at $4.9 billion—making it the first company to surpass the one-million mark. SharpLink, the second-largest corporate holder, owns 598,800 ETH and recently raised $900 million to expand its position.
On-chain data points to sustained bullish sentiment: the amount of ETH held on exchanges has fallen to 15.28 million, the lowest level in nine years, while more than 30% of total supply is currently staked. Analysts suggest that shrinking supply combined with increasing demand could amplify volatility and fuel further price gains. However, Ethereum co-founder Vitalik Buterin cautioned that heavy corporate accumulation could pose risks of “excessive leverage.”
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