Despite growing investments in spot Ethereum ETFs, their impact on the cryptocurrency’s market price remains limited. According to blockchain analytics firm Glassnode, ETFs currently represent only a small portion of the spot ETH market and have negligible influence on price movements.


🔹 Ethereum ETFs Are Growing, but Price Remains Unaffected

Over the past nine trading days, spot Ethereum ETFs have seen continuous capital inflows, signaling increased interest from institutional investors. The ETHA fund by BlackRock is leading the trend, having surpassed $4.5 billion in assets since its launch.

On Thursday alone, Ethereum ETFs recorded a net inflow of nearly $92 million, with:

🔹 $50.4 million into ETHA by BlackRock

🔹 $38.3 million into FETH by Fidelity

Despite this momentum, Glassnode reports that the average investor in these funds is currently underwater. The ETHA fund has an average cost basis of $3,300, and FETH’s is even higher at $3,500—compared to the current ETH price of $2,616, about 21% lower.


🔹 Price Remains Below Cost Basis

Every time ETH falls below this average cost basis, investors begin exiting positions, resulting in accelerated capital outflows, as seen in August 2024 and again in January and March 2025.

Meanwhile, analysts note a capital rotation from Bitcoin ETFs into Ethereum. After a strong month of inflows, spot Bitcoin ETFs have turned negative, while Ethereum ETFs continue to attract new funds. Popular analyst Crypto Rover has described this as a capital shift from BTC to ETH.


🔹 ETFs Hold a Small Share of the Spot Market

Despite rising interest, Glassnode emphasizes that Ethereum ETFs currently account for only 1.5% of spot trading volume. At launch in 2024, their share was similarly small, briefly peaking at 2.5% in November, before returning to 1.5% in 2025.

“Spot Ethereum ETFs are not currently large enough to significantly impact price discovery. Market adoption has been slow and volumes remain limited,” notes Glassnode.

🌍 Broader Market Uncertainty Continues

The entire crypto market remains in a volatile phase, as renewed trade tensions between the U.S. and China and global macroeconomic uncertainty weigh on investor sentiment. This instability affects not just Ethereum but the entire digital asset ecosystem.



#ETH , #Ethereum , #CryptoNewss , #etf , #CryptoAnalysis

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