Ethereum ETF Holdings Reach 5 Million ETH

The amount of Ethereum held by spot ETF issuers reached an unprecedented level on Thursday. Following net inflows of $726 million on Wednesday—the highest since Ethereum ETFs launched— firms like BlackRock and Grayscale now manage 4.95 million ETH, as per The Block Data Dashboard. This surge in demand has also pushed ETH's price above $3,400, trading at $3,424.73 as of 8:36 a.m. ET, reflecting an increase of over 8% in the last 24 hours. According to Steven Zheng, Director of Research at The Block, the revitalization of the Ethereum ecosystem, aided by the restructuring of the Ethereum Foundation and the emergence of new treasury companies, has positively influenced the demand and price of ETH. July is proving to be a remarkable month for Ethereum ETFs, which have collectively received net inflows of $2.27 billion, the largest monthly total since their inception in July 2024. BlackRock's ETHA fund led the inflow surge with $499 million, as noted by the SoSoValue data. The three most prominent spot Ethereum ETFs based on assets under management are from BlackRock, Grayscale, and Fidelity. Rachael Lucas, a crypto analyst at BTC Markets, noted that Ethereum is increasingly recognized as a long-term institutional asset rather than merely a trading vehicle, with ETFs collectively holding about 4% of Ether's total market capitalization. Data analyst Hildobby from Dragonfly predicts that if issuers maintain their recent pace, it will take about a year to absorb an additional 10% of Ethereum's total supply.