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Ethereum ETFs (exchange-traded funds) had the best weekly gain since their introduction and saw more than $900 million in inflows as of July 8-12. The surge in inflows was accompanied by a 17% rise in the Ethereum price, which briefly shot over the $3,000 level on July 11. This growth reflected renewed institutional interest and increased buying from prominent asset managers like BlackRock and SharpLink.
As per SoSoValue data, daily inflows peaked at $383.10 million on July 10, with additional significant contributions of $211.32 million on July 9 and $204.82 million on July 11. The three days have become the second-largest single-day inflows to Ethereum ETFs since they launched in July 2024. There were a total of $13.53 billion of assets under management, which translated to 3.77% of Ethereum's circulating market cap.
BlackRock’s Ethereum ETF (ETHA) remained the dominant product in the market, both by inflows and net asset value. On July 11, ETHA received a one-day net inflow of $137.08 million, bringing its cumulative net inflow to $6.29 billion. ETHA's assets currently stand at $6.14 billion, giving it a 1.71% share of the Ethereum market and making it the top ETF by market exposure.
ETHA also allows the attraction of institutional funds, which are highly liquid at a low fee of 0.25%. It was the highest volume traded in any ETF, with its daily volume going to more than $990 million, traded in 43.78 million shares. On July 10, BlackRock bought $156 million in ETH, adding to its risk in Ethereum and exceeding its Bitcoin acquisitions that day by far.
Other ETFs, including ETHE and ETH Grayscale ETFs, also received daily inflows but had fewer assets. ETHE experiences a net inflow of about $9.96 million every day but a cumulative outflow of $4.26 billion. Its commission is charged at 2.50%, which is the highest among them. Fidelity (FETH) and Bitwise (ETHW) also had steady daily inflows with fee rates of 0.25% and 0.20%, respectively.
Institutional sentiment was boosted further with SharpLink's new acquisition. The purchase consisted of 10,000 ETH at an approximate value of $25.72 million, valuing ETH at $2,572.37 per token. This increased SharpLink's Ethereum possession from 205,634 ETH to 215,634 ETH, demonstrating its dedication to ETH exposure by directly accumulating assets.
Ethereum sold at approximately $2,923.59 at the close of the week, indicating a 1.51% decrease over the past 24 hours. Its market capitalization was a total of $353.11 billion, with a 24-hour trading volume amounting to $20.88 billion. Although volatility may still be short-term, the convergence of ETF inflows with institutional buying suggests a long-term interest in Ethereum investment vehicles.
