During the last ten trading sessions, capital inflows into spot Ether ETFs have accelerated, with BlackRock's iShares Ethereum Trust (ETHA) dominating the flows. According to data from Farside Investors, ETHA inflows reached $70.2 million on Friday.
As a result, its total inflows since inception have surpassed $4.6 billion, bringing net flows across all U.S. ETF issuers to over $3 billion. Along with the rise in the price of Ethereum, the price of ETHA shares has also skyrocketed by 44% over the past month, currently trading at $19.49.
Earlier this month, BlackRock modified the S-1 filing for its Ethereum ETF, ETHA, to allow for in-kind redemptions. Shortly after, capital inflows into ETHA regained momentum. Additionally, asset managers are urging the SEC to soon introduce staking in Ether ETFs. On Friday, asset manager RexShares filed a prospectus to incorporate staking into Ether ETF products in the United States. Asset manager BlackRock is also pushing for the same.
Although inflows into spot Ethereum ETFs have been increasing, this will not have a significant impact on the spot price of ETH, according to the latest study by Glassnode. This is because the contribution of ETFs to daily trading volume of spot Ether is negligible, at 1.5% or lower.
