BlackRock and Fidelity led over $4B in ETH ETF inflows, offsetting Grayscale's $4.27B outflow in a clear shift in institutional strategy.
June saw ETH ETF volumes surge, with ETHA and FETH dominating while older products like ETHE continued to see capital flight.
Ethereum’s growing L2 activity and ETF demand signal rising institutional and ecosystem confidence despite short-term market dips.
Ethereum ETF inflows have surged past $4 billion less than a year after launch, signaling growing institutional confidence even as Grayscale's legacy product saw nearly equivalent outflows. The flow divergence paints a revealing picture of capital rotation within Ethereum’s U.S.-based spot ETF landscape.
BlackRock, Fidelity Drive Bulk of Ethereum ETF Growth
According to a post by Kyledoops, BlackRock's ETHA led the field with an astounding $5.3 billion in total inflows between June 5 and June 24. This ETF alone recorded its peak daily inflow of $163.6 million on June 11, with consecutive high-volume days also logged on June 10 and 12 at $80.3 million and $101.5 million, respectively. However, the trend briefly reversed on June 20 with a $19.7 million outflow.
Fidelity’s FETH followed closely with $1.65 billion in inflows. While June 11 saw the product post its highest daily addition of $202.2 million, losses were also recorded, most notably on June 5 with a $23.4 million outflow. FETH experienced other red days on June 13 and June 17, losing $8.8 million and $20.2 million, respectively, but still maintained an average daily net of $7.2 million.
Bitwise’s ETHW ETF added $346.2 million to Ethereum’s ETF stack. Its largest single-day gain hit $204 million, although it also saw a significant $56.1 million decline on another trading day. Activity on ETHW remained minimal across most other sessions, indicating limited investor activity compared to larger issuers.
Structure and Flow Patterns Reflect Institutional Shifts
These ETFs represent a notable reshaping of capital channels around Ethereum exposure. ETHA and FETH are structured for direct spot exposure, offering regulated, custodial access to Ethereum without synthetic derivatives. This model contrasts Grayscale’s ETHE, which recorded a stark $4.27 billion in total outflows across the same period.
VanEck’s ETHV gathered $141.3 million in flows, with a peak of $19.8 million and a $4.8 million outflow on its weakest day. Meanwhile, 21Shares’ CETH ETF registered just $19.5 million in net activity, revealing minimal traction despite market momentum. Invesco’s QETH secured $23 million, and Franklin Templeton’s EZET drew $42.6 million, both with isolated spikes in inflows and isolated drawdowns.
This rotation toward newer ETF vehicles indicates institutional preferences are changing. The strategic move by asset managers like BlackRock and Fidelity to offer efficient exposure to Ethereum appears to be paying off in market share.
Grayscale Sees Continued Drain as On-Chain Activity Rises
Grayscale’s ETHE experienced the sharpest capital flight, with a maximum daily outflow of $484.1 million and sustained withdrawals throughout June. Its native ETH product posted $754.1 million in cumulative flows, positive in aggregate but volatile, with a $73.2 million high and a $37.8 million low.
https://twitter.com/misterrcrypto/status/1937581742094729501
While older products bleed capital, Ethereum’s broader fundamentals are evolving. Mister Crypto’s analysis notes that 13.2 million unique addresses interacted with Ethereum chains recently, even amid a 19.34% weekly decline. Layer 2 activity currently outpaces mainnet interactions by 5.04x, reflecting Ethereum’s growing multichain and modular ecosystem.
Market Momentum Aligns with ETF Demand
Ethereum is currently trading at $2,443.6, up 1.24% on the daily candle. Technical indicators show mixed sentiment, with MACD remaining negative at -2.6, but RSI climbing toward the neutral line at 47.75. The price has rebounded from sub-$1,600 lows seen earlier in 2025 and is approaching the $2,500 mark significant resistance area tested multiple times in 2024.
This ETF flow trend arrives as Ethereum’s chart structure shows deeper support between $1,500 and $1,600, with multiple historical pivot levels forming a base for renewed upside. The macro-backed price compression has not stopped capital from entering via compliant investment vehicles.
Ethereum ETF net inflows now total $4.01 billion, led overwhelmingly by BlackRock and Fidelity. These shifts mark a clear turning point in institutional Ethereum exposure and may shape the next leg of ETH’s market trajectory.
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