US Ethereum ETFs Top $4B in Net Inflows

On June 23, US spot Ethereum exchange-traded funds (ETFs) achieved a significant milestone, surpassing $4 billion in cumulative net inflows. This achievement comes nearly a year since their inception on July 23, 2024, according to data from The Block. Despite geopolitical tensions in the Middle East, the funds saw a notable increase of $100.7 million in a single day. Fidelity's FETH was at the forefront, drawing $60.5 million, surpassing BlackRock's ETHA. Other contributors included Grayscale's ETHE and ETH products, with daily zero flows from smaller funds. Since being converted, Grayscale’s ETHE experienced outflows of $4.3 billion, adjusting its market share from 89.7% to 30.2%. However, BlackRock's ETHA has taken the lead with a 31.8% market share, followed by Fidelity at 18% and Grayscale's ETH at 15.5%. Nate Geraci from The ETF Store highlighted the growth as successful, countering earlier expectations of $5 billion as the peak for Bitcoin ETFs. The trading volume for these ETFs has reached $89 billion, maintaining a robust daily volume of $840 million. However, this is a decline from a peak of $1.5 billion in February. For comparison, the US spot Bitcoin ETFs recorded $34.7 billion in net inflows within the first 11 months, currently standing at $47.3 billion, with a recent $350.8 million inflow led by BlackRock's IBIT. Bitcoin prices were at $105,091, a 3.2% increase over the last 24 hours, while Ethereum was priced at $2,403, marking a 6.3% gain. The Block, an independent media outlet, provides this information for informational purposes only.