U.S. spot Ethereum ETFs received $225.8 million on Thursday. The inflow was their strongest daily result in 10 months. The inflow extended a nine-session buying streak. The nine sessions have brought in $1.42 billion. Farside Investors data shows that the last net outflow occurred on August 11. August 14 was the only later session without a net flow. Thursday's inflow was the largest since October 28 last year. BlackRock's ETHA fund received $1.02 billion during the nine sessions. That represented 72% of the category's total. ETHA recorded net buying on every session. Arkham counted $889.8 million for ETHA during the first eight sessions. Arkham's figure matched Farside Investors' tally. Fidelity's FETH recorded its strongest daily inflow of the streak on Thursday at $56.2 million. BlackRock's staked Ethereum product, ETHB, received $20.7 million on Thursday. U.S. spot Bitcoin ETFs received $242.3 million on Thursday. Bitcoin ETFs received $16.5 million more than Ethereum ETFs. On August 17, Ethereum ETFs received one-tenth of Bitcoin ETFs' inflow. Ethereum traded around $2,477 on Friday. Ethereum was down 0.5% over 24 hours. Ethereum was up about 5% over the week, according to CoinGecko data. Max Shannon of Bitwise Europe said buying was coming from outside crypto. Shannon put this week's inflow at $713.6 million. Shannon said the flows were likely driven by a rise in Cross Asset Risk Appetite, Bitwise's measure of risk appetite in traditional markets. Shannon said Ethereum lagged Bitcoin and larger altcoins during the same period. Shannon said that performance was warranted given Ethereum's strength since the broader crypto rally began on August 19. Shannon said capital rotated into higher-beta names including ZEC, XRP, SOL and HYPE. Shannon said those assets outperformed Ethereum. Shannon said Bitwise's dispersion index rose this week. Shannon said the increase suggested that broader market narratives were driving activity. Shannon said Ethereum was hovering around its 200-week moving average for the first time since breaking support in late January. Shannon called the moving average an important level to hold for short-to-medium-term momentum. Investors acquired roughly 1.1 million ETH around that level, according to Shannon. Shannon said those holdings could create temporary resistance if investors sell into strength. Shannon said spot flows may not be enough to sustain the market. Shannon said spot volume must increase for the market to sustain its footing. Spot volume had declined to its 16th percentile year-on-year since the rally began on August 19, Shannon said.
U.S. Spot Ethereum ETFs Take $225.8M, Nearly Match Bitcoin Inflows
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Summary
U.S. spot Ethereum ETFs saw $225.8 million in inflows on Thursday, the highest in 10 months. The buying streak now totals $1.42 billion over nine sessions. BlackRock’s ETHA led with $1.02 billion, while Fidelity’s FETH hit a streak high of $56.2 million. Bitcoin ETFs took $242.3 million, slightly ahead. Traders using spot grid strategy and take profit strategy may find entry points as risk appetite rises. Higher-beta assets like ZEC and XRP also drew capital.
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