Funds continue to flow back into U.S. spot Ethereum ETFs. Data shows these products recorded a net inflow of $225.8 million on Thursday, marking the largest single-day inflow since October 28, 2025, and extending the streak of consecutive net inflows to nine trading days.
$1.42 billion flowed in over 9 trading days.
Since August 17, the U.S. spot Ethereum ETFs have recorded a cumulative net inflow of $1.42 billion. According to Farside Investors data, the previous net outflow occurred on August 11, while August 14 saw zero inflow and zero outflow.
In this round of capital flows, BlackRock’s ETHA is the primary fund attracting the most funds. Over nine trading days, the fund accumulated net inflows of $1.02 billion, accounting for approximately 72% of total inflows across all categories, and maintained net purchases throughout all nine days. On-chain analytics firm Arkham also noted that ETHA attracted $889.8 million over the first eight trading days, consistent with Farside’s data.
- Thursday net inflow: $225.8 million
- Accumulated over 9 trading days: $1.42 billion
- ETHA inflow during the same period: $1.02 billion
The gap with Bitcoin ETFs is narrowing
On Thursday, U.S. spot Bitcoin ETFs saw net inflows of $242.3 million, just $16.5 million more than Ethereum ETFs. By contrast, on the first day of this synchronized inflow cycle on August 17, Ethereum ETFs attracted only about one-tenth the amount of Bitcoin ETFs.
In addition to ETHA, FETH, managed by Fidelity, was another significant source of inflows this round, recording a net inflow of $56.2 million on Thursday—the best single-day performance during this period of capital return. BlackRock’s staked Ethereum product, ETHB, also saw $20.7 million in inflows on the same day.
Institutions said buying pressure came from traditional markets.
Max Shannon, Senior Researcher at Bitwise Europe, stated that this buying pressure is more likely coming from outside the crypto market. He believes the inflows this week are linked to increased risk appetite in traditional markets. According to his data, Ethereum ETFs have attracted $713.6 million in inflows this week, consistent with Farside data.
However, Ethereum's overall performance recently has still lagged behind Bitcoin and several major tokens. Shannon noted that some funds have shifted toward more volatile mainstream tokens, including ZEC, XRP, SOL, and HYPE, indicating that the current market trading focus is more dispersed than before.
CoinGecko data shows Ethereum closed at approximately $2,477 on Friday, down 0.5% over the past 24 hours, but up about 5% over the past week. Shannon also noted that Ethereum is currently trading near the 200-week moving average, the first time it has returned to this level since breaking below it in January. If spot trading volume does not continue to expand, the sustainability of the rally, driven solely by ETF inflows, remains to be seen.