US spot Ethereum exchange-traded funds extended their remarkable inflow streak to 16 consecutive trading days on Friday, attracting 【$452.72 million】 in fresh capital according to SoSoValue data. This sustained demand has pushed total net assets under management to 【$20.66 billion】, representing nearly 5% of Ethereum's total market capitalization.
The iShares Ethereum Trust (ETHA) from asset management giant BlackRock accounted for 【97%】 of Friday's inflows at $440.10 million. ——This single product now holds $10.69 billion in assets——, making it the largest Ether ETF by a significant margin. Bitwise's ETHW and Fidelity's FETH followed with modest gains of $9.95 million and $7.30 million respectively.
Interestingly, Grayscale's ETHE continued its outflow trend with $23.49 million in redemptions. Since conversion from a trust, the fund has seen 【$4.29 billion】 exit - a stark contrast to the sector's overall positive momentum.
The current inflow streak beginning July 2 has seen total net investments more than double from $4.25 billion to $9.33 billion. July 16 marked the peak with 【$726.74 million】 entering the funds, while multiple sessions have exceeded $300 million.
——This surge coincides with growing institutional interest in Ethereum's utility beyond speculation——, particularly for decentralized finance applications and blockchain-based financial infrastructure. Bitwise CIO Matt Hougan projects demand could outpace Ethereum's network issuance by seven times within a year.
Meanwhile, spot Bitcoin ETFs rebounded with $130.69 million inflows on Friday after three days of outflows. The products now hold 【$151.45 billion】 in total net assets, though performance remains volatile compared to their Ether counterparts.
Market analysts note the divergent trajectories may reflect shifting investor preferences, with some viewing Ethereum as having greater growth potential in smart contract adoption and tokenization use cases. However, Bitcoin maintains its dominance as the larger and more established cryptocurrency investment vehicle.
The successful launch and performance of these digital asset ETFs comes as US regulators gradually warm to cryptocurrency investment products. Industry observers suggest the strong demand could accelerate approval of additional crypto-based financial instruments in coming months.
As of press time, Ethereum's price held steady near $3,400 while Bitcoin traded around $67,200 - both showing resilience despite broader market fluctuations.