The crypto market is showcasing strong bullish momentum, with Ethereum standing out as a leading asset. Record inflows into ETFs are further driving the price of ETH.
ETF Inflows Propel Ethereum's Price Higher
The sharp rise in Ethereum’s price is largely driven by unprecedented inflows into U.S. spot Ether ETFs. On July 14, the cryptocurrency recorded a record net inflow of $726.6 million.
The major inflows were as follows:
- BlackRock’s ETHA: $499.2 million
- Fidelity’s FETH: $113.3 million
- Grayscale ETHE: $33 million
- Grayscale ETH: $54.2 million
- Bitwise ETHW: $14.4 million
- Franklin’s EZET: $5.1 million
- VanEck’s ETHV: $3.7 million
- Invesco’s QETH: $3.7 million
Combined, these ETFs now hold over 5 million ETH, accounting for nearly 4% of Ethereum’s total circulating supply.
Imbalance Between Demand and ETH Issuance
Ethereum’s current net issuance is unable to meet institutional demand. Over the last 24 hours:
- ETH issued: ~$6.74 million
- ETH purchased by ETFs: over 107 times that amount
This significant imbalance may lead to supply-side pressure, potentially pushing ETH prices higher in the short term.
ETH Price Dynamics: 40% Monthly Increase
As of writing, Ethereum is trading at $3,378.77, marking a 40.4% increase since July 1, when it stood at just $2,403.27. The 14-day price gain stands at 30.5%, highlighting growing institutional interest and strong investor sentiment.
The cryptocurrency market continues to demonstrate activity, and Ethereum, buoyed by record inflows into ETFs, looks particularly promising. The likelihood of an altcoin season beginning increases as capital flows into other major altcoins.
