TL;DR
- U.S. spot Ethereum ETFs have pulled in over $4 billion in net inflows since launching on July 23, 2024, hitting the milestone in under a year with a $100.7 million surge on June 23.
- Fidelity’s FETH led the charge with $60.5 million in fresh capital, underscoring a shift toward low-fee, spot-backed Ethereum ETFs as average daily flows hover around $840 million and total volume nears $89 billion.
- Grayscale’s higher-fee ETHE saw $4.3 billion of outflows, shrinking its share to 30%, while BlackRock’s ETHA now holds 32%; by contrast, U.S. spot Bitcoin ETFs have amassed roughly $47.3 billion in the same period.
The race for digital-asset adoption in traditional finance just hit another milestone: U.S. spot Ethereum ETFs have collectively drawn over $4 billion in net inflows in under twelve months. Launched on July 23, 2024, these funds have attracted capital even amid geopolitical jitters, underscoring growing institutional appetite for ether’s on-chain promise.
Rapid Ascent to $4 Billion Mark
Eleven months after its debut, spot Ethereum ETFs crossed the $4 billion threshold on June 23, thanks to a combined $100.7 million in daily inflows. That push marked the strongest single-day reception in about a week, bringing the cumulative tally to just shy of the first anniversary.
Total trading volume for the suite of U.S. spot Ethereum ETFs now stands near $89 billion, with average daily flows still hovering around $840 million despite a peak of over $1.5 billion earlier in the year.
Fidelity’s FETH Takes Center Stage
On their biggest recent inflow day, Fidelity’s FETH led all entrants with $60.5 million, outpacing BlackRock’s usually dominant ETHA fund, which chalked up $25.8 million. Grayscale’s mini-ETF products chipped in healthy sums too; its converted ETHE fund brought in $9 million, while the legacy ETH product added $5.4 million.
The strong performance from newer fund structures signal that investors are increasingly favoring lower-fee, spot-backed vehicles over legacy trusts.
Grayscale’s Outflows Reshape Market Share
Grayscale’s higher-fee ETHE fund has seen $4.3 billion in net outflows since converting to an ETF, meaning that, absent those shifts, spot Ethereum inflows would total over $8.3 billion. As a result, ETHE’s slice of the Ethereum-ETF pie has shrunk from nearly 90 percent at launch to about 30 percent today.
Currently, BlackRock’s ETHA manages approximately 32 percent of total assets, while Fidelity’s FETH and Grayscale’s ETH funds account for about 18 percent and 15.5 percent, respectively.
Ether vs. Bitcoin ETFs: A Still-Evolving Narrative
By comparison, U.S. spot Bitcoin ETFs amassed approximately $34.7 billion in their first eleven months and have since swelled to about $47.3 billion. On June 23, Bitcoin’s ETF suite saw $350.8 million in fresh capital, led by BlackRock’s IBIT, extending a ten-day inflow streak.
