Ethereum ETF Inflows Hit 10-Month Peak as BlackRock Drives Record Buying Streak

Ethereum ETFs Post Strongest Day in Ten Months

U.S. spot Ethereum exchange-traded funds experienced their most robust trading day in ten months on Thursday, attracting $225.8 million in fresh inflows, according to Farside Investors data. This marked the culmination of an extraordinary nine-session buying streak that commenced on August 17, during which the funds collectively pulled in $1.42 billion. Prior to this surge, the last significant outflow period occurred on August 11. The only interruption in this buying momentum came on August 14, when the funds recorded neutral net flows.

BlackRock Dominates the Rally

BlackRock’s ETHA Ethereum ETF has been the primary engine behind this institutional interest, capturing $1.02 billion of the $1.42 billion total across the nine-day stretch—representing 72% of all inflows to the category. Notably, the ETHA fund registered buy-side activity on every single one of the nine trading days, demonstrating consistent institutional demand. Blockchain analytics firm Arkham independently confirmed this pattern, documenting $889.8 million in net purchases during the initial eight-day period. Beyond ETHA, Fidelity’s FETH registered its best performance of the buying run on Thursday with $56.2 million in inflows, while BlackRock’s ETHB staked Ethereum product added $20.7 million the same day.

The purchasing intensity has dramatically shifted the competitive landscape between Ethereum and Bitcoin ETFs. On August 17, the opening day of both buying streaks, Ethereum funds attracted only one-tenth the capital that Bitcoin ETFs garnered. By Thursday, however, U.S. spot Bitcoin ETFs took in just $242.3 million—merely $16.5 million more than Ethereum’s haul, effectively narrowing a historic valuation gap.

Market Rotation Signals Shifting Risk Appetite

According to Max Shannon, senior research associate at Bitwise Europe, this week’s $713.6 million in Ethereum ETF inflows likely reflect a broader expansion in cross-asset risk appetite within traditional markets. Shannon noted that despite these substantial flows, Ethereum has relatively underperformed Bitcoin and major altcoins during the same period. This observation aligns with a notable capital rotation pattern: money has increasingly flowed toward higher-beta blue-chip names including ZEC, XRP, SOL, and HYPE tokens, which have demonstrated stronger momentum. Bitwise’s dispersion index, which rose this week, suggests the market is being propelled by an increasingly diverse set of investment narratives rather than concentration in any single asset.

Ethereum was trading near $2,477 on Friday, down a modest 0.5% over the preceding 24 hours but maintaining a weekly gain of approximately 5%, per CoinGecko data. Shannon flagged that Ethereum currently hovers around its 200-week moving average—a level it hasn’t tested since breaking support in late January—describing this as a critical technical juncture.

The momentum in Ethereum ETFs reflects a maturation in institutional crypto adoption and signals that traditional finance capital continues finding its way into digital assets, even as it increasingly diversifies into performance-leading alternatives like XRP.

Source: Farside Investors, via Decrypt. Not financial advice.