Spot Ethereum ETFs traded on the US market have reached a significant milestone of $4 billion in net inflows, eleven months post-launch.
Record Influx to Spot Ethereum ETFs
As of June 24, according to SoSoValue data, the funds attracted $100.7 million in net inflows in just one day, marking the highest daily influx in a week despite rising geopolitical tensions. Fidelity’s fund led with $60.5 million while BlackRock’s ETHA brought in $25.8 million, and Grayscale’s ETHE and ETH products received $9 million and $5.4 million respectively.
Latest Status of Ethereum ETFs
While the total net inflow is impressive, $4.3 billion in net outflows since the conversion of Grayscale’s higher-fee ETHE have impacted this figure. Without these outflows, cumulative net inflows would have been $8.3 billion. Nate Geraci, president of ETF Store, mentioned on the social media platform X that "Spot Ethereum ETFs have surpassed $4 billion in cumulative inflows since their launch. Including ETHE’s $4.3 billion outflows, it seems quite successful to me."
Comparing Ethereum and Bitcoin ETFs
The performance of spot Ethereum ETFs remains modest compared to those of Bitcoin, which launched in January 2024 and attracted $34.7 billion in net inflows within the first eleven months, currently standing at $47.3 billion. On June 24 alone, Bitcoin ETFs attracted $350.8 million in net inflows, led by BlackRock’s IBIT product. Regarding market capitalization, Ethereum stands at $290.3 billion, about 13.8% of Bitcoin's $2.1 trillion market value.
In conclusion, spot Ethereum ETFs have achieved significant results despite challenges and competition from Bitcoin ETFs.
