Ethereum ETFs record strongest day in 10 months with $225.8M inflow
In brief
- Ethereum ETFs recorded strongest day in 10 months, taking in $225.8 million on Thursday
- Nine consecutive trading sessions since August 17 accumulated $1.42 billion in total inflows
- BlackRock's ETHA fund captured 72% of inflows, adding $1.02 billion without a down day
- Bitcoin ETFs led Thursday by $16.5 million, narrowing the gap versus Ethereum
The Momentum Shift
BlackRock's ETHA fund has not recorded a single day without net buying during the nine-session run. Fidelity's FETH had its best day on Thursday at $56.2 million, while BlackRock's staked Ethereum product ETHB added $20.7 million the same day.
The gap with Bitcoin has narrowed dramatically. U.S. spot Bitcoin ETFs took $242.3 million on Thursday—just $16.5 million more than Ethereum. The contrast with the rally's start is striking: on August 17, the first day of both runs, Ethereum ETF funds took a tenth of what Bitcoin's did.
What's Driving the Buying
Max Shannon, senior research associate at Bitwise Europe, attributed the inflows to a marked rise in cross-asset risk appetite. The buying appears to be flowing in from outside crypto rather than rotating within it. Ethereum has still lagged Bitcoin and larger altcoins over the same stretch, with capital rotating into higher-beta names such as ZEC, XRP, SOL and HYPE.
Ethereum traded around $2,477 on Friday, down 0.5% over the past 24 hours but up around 5% on the week. The token is currently hovering around its 200-week moving average for the first time since breaking support in late January. Investors picked up roughly 1.1 million ETH around that level.
One note of caution: spot volume has softened to its 16th percentile year-on-year since the rally began on August 19. The buying streak is real, but it's happening on thinner volume than usual.
