The US Ether-based ETFs recorded their sixteenth-consecutive day of net inflows with an aggregate addition of $452.72 million. This inflow pushed the total Ether ETFs’ assets to a significant $20.66 billion, reflecting growing investor interest.
Among all the participants, BlackRock’s iShares Ethereum Trust (ETHA) led the pack with $440.10 million in a single day. This took ETHA’s total asset holdings to $10.69 billion and made it the largest Ether ETF in the United States market.
Bitwise’s Ether ETF (ETHW) came second with a comparatively low contribution of $9.95 million worth of net inflows made in a day. Fidelity’s Ethereum Fund (FETH) also recorded a stable contribution with the accumulation of $7.30 million also on the same day.
Ethereum Trust (ETHE) of Grayscale was in the red with a day’s loss of $23.49 million. Overall outflows from ETHE are now $4.29 billion, largest among all Ether ETF products.
Ethereum ETFs gain momentum among institutions
The total net inflow to all United States spot Ether ETFs totals $9.33 billion since their launches. They currently account for approximately 4.64 percent of Ethereum’s entire market capitalization.
The inflows touched a high of a record $726.74 million on July 16 and thus significantly boosted the momentum of daily investment. Since July 2, total inflows have increased more than twice and jumped from $4.25 billion to $9.33 billion.
Institutional investor interest in Ethereum increased with the release of the token in staking services and in decentralized finances. Commentators are largely bullish that this buying interest is due to optimism in smart contract platforms and long-term potential for Ethereum.
Bitwise Chief Investment Officer Matt Hougan predicts additional rises in Ethereum demand in the next year. It will in all likelihood trigger purchases of up to $20 billion in Ether owing to exchange-traded products and company appetite.
Ethereum issuance within this same timeframe will be capped at a paltry 0.8 million ETH, hinting at a potential supply shortage. This imbalance will witness Ether’s price increasing more with growing demand within the investment market.
Meanwhile, spot Bitcoin ETFs received $130.69 million inflows during the same day, signaling renewed buying interest after earlier outflows.
