First Time Ever! Ethereum ETFs Record Over $1B in Daily Inflow

As Ethereum (ETH) garners more attention among mainstream audiences, various investors are jumping onto the bandwagon to gain exposure to the second-largest cryptocurrency. Spot Ethereum exchange-traded funds (ETFs) are not left out of the picture.

According to public data from the analytics platform, Farside, these Ether-focused investment products recorded an inflow of $1.018 billion on August 11th. Notably, this is the highest-ever that the Ethereum ETF has ever seen since its inception.

Ethereum ETFs Soak Over $1B

BlackRock’s ETHA led the inflow streak with $639.8 million. Notably, the company’s investment product has seen the most inflow since the Ether-focused ETFs launched on the United States financial market. According to Farside, ETHA currently has a total ETH ETF stash worth over $10.48 billion.

Trailing ETHA was Fidelity’s FETH, which soaked $276.9 million from Ether-hungry investors. This brings its total holdings to a valuation of $2.665 billion. The ETH ETF with the third-highest inflow for the day was Grayscale’s ETH. With Ether ETF worth $66.6 million, the financial product now holds a total of $1.242 billion.

Other investment products that saw inflows were Grayscale’s ETHE, VanEck’s ETHV, Franklin Templeton’s EZET, Bitwise’s ETHW, and 21Shares’ CETH. They saw $13 million, $9.4 million, $4.9 million, $4.3 million, and $3.9 million inflows, respectively. Invesco’s QETH saw no inflow on August 11th.

Notably, investors have been soaking up more Ethereum ETFs than Bitcoin ETFs. Yesterday, the BTC-backed ETF products saw a net inflow of $178.1 million, which is significantly lower than that of Ether.

ETH Surpasses $4.3K

Aside from Ethereum ETFs, various institutional investors have committed to frequent accumulation of the second-largest cryptocurrency. For instance, the crypto mining firm BitMine announced yesterday that it has acquired $2 billion worth of ETH. The purchase made the company the largest ETH holder among public companies globally. Other consistent ETH buyers are Upexi, SharpLink, and the Ether Machine.

The increased attention from investors globally has driven ETH’s price to multi-year highs. Although the digital asset is currently trading below its 2021 all-time high of $4,891, it currently trades above $4,300. This recently attained price level is one that it has not seen for nearly four years.

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