Ethereum Exchange-Traded Funds (ETF) surpassed a critical level in the 11th month! Here are the details.

United States-traded spot Ethereum exchange-traded funds (ETF) crossed the $4 billion cumulative net inflow threshold in the 11th month of their launch.

US Spot Ethereum ETFs Surpassed $4 Billion Net Inflows Barrier

This milestone was crossed on Monday, June 23, with daily inflows of $100.7 million. Spot Ethereum ETFs began trading on July 23, 2024. Despite the recent geopolitical tensions in the Middle East, daily inflows remain high, indicating that investor confidence continues.

Fidelity Takes the Lead, BlackRock Takes Second Place

Fidelity's FETH fund provided the largest inflow on Monday at $60.5 million. BlackRock's ETHA ETF, which is usually the leader, remained in second place with inflows of $25.8 million. There was an inflow of $9 million into Grayscale's ETHE fund and $5.4 million into its ETH miniproduct. There was no movement in other ETFs.

Spot Ethereum ETFs, like Bitcoin ETFs, have had a positive balance sheet overall, despite large outflows from the highly charged Grayscale ETHE fund. There has been an outflow of $4.3 billion from the Grayscale ETHE fund alone to date. Without these outflows, total net inflows could have reached $8.3 billion.

Following these outflows, the market share of the Grayscale ETHE fund decreased from 89.7% to 30.2%, while BlackRock's ETHA fund rose to the lead with a 31.8% share. Fidelity FETH was third with 18%, and Grayscale ETH was fourth with 15.5%.

ETF Store President Nate Geraci stated in his assessment on the social media platform X, "I think a net inflow of 4 billion dollars, including Grayscale outflows, is quite successful. If you recall, some experts suggested that Bitcoin ETFs could raise a maximum of 5 billion dollars in the first year. Expectations are constantly being updated," he said.

The total trading volume of spot Ethereum ETFs reached 89 billion dollars, while the daily volume on June 23 was 840 million dollars. Although this figure is still below the daily peak of 1.5 billion dollars in February, it continues to remain above average.

Bitcoin ETFs Still Ahead

If we need to make a comparison, the US spot Bitcoin ETFs had a net inflow of $34.7 billion in the first 11 months since their launch in January 2024. This figure has now reached $47.3 billion.

On June 23, a net inflow of $350.8 million occurred in Bitcoin ETFs. This means a total inflow of $2.8 billion over the last 10 days. Again, BlackRock's IBIT product stood out in the inflows.

*It is not investment advice.

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