The Ethereum ETF has seen strong capital inflows for 12 consecutive trading days, with BlackRock's ETHA leading the way amid the capital rotation from Bitcoin ETFs.
The capital inflow into the Ethereum ETF surged significantly, reaching $109.5 million on Tuesday's trading day. Thus, the spot ETF has seen inflows for 12 consecutive days, with BlackRock iShares Ethereum Trust (ETHA) accounting for most of the inflows. Consequently, the price of ETHA has also risen by 45% over the past month. On the other hand, the activity of ETH whales has also pushed the price of this altcoin back above $2,600. BlackRock's ETHA is leading the inflow into Ethereum ETFs.
Since mid-May 2025, the spot Ethereum ETF has seen continuous inflows, now surging to over $100 million, with BlackRock's ETHA having the largest inflow. According to Farside Investors, the inflow for ETHA is $77.2 million, followed by Fidelity's FETH with $21 million, and Grayscale's mini Ethereum ETF (ETH) with $8.4 million.
BlackRock is shifting funds from Bitcoin to Ethereum, which seems to be a typical case of capital rotation. BlackRock's Bitcoin ETF (IBIT) has experienced significant outflows, while its Ethereum ETF (ETHA) continues to see inflows. Since mid-April, ETH has outperformed BTC, with institutional funds flowing into the largest altcoin.
Additionally, the price of BlackRock iShares Ethereum Trust (EHTA) has soared 45% on the monthly chart, thanks to a significant influx of capital. Nevertheless, the fund is still down 25% year-to-date, but if the inflows continue, its price could rebound rapidly. As of now, the assets managed by ETHA amount to $3.7 billion, holding over 1.4 million ETH.
Staking rewards for the Ethereum ETF
Asset management company BlackRock has been working to push the approval of Ethereum ETF staking, which could trigger more institutional capital inflows. The U.S. Securities and Exchange Commission (SEC) is expected to make its initial approval on BlackRock's application in the third quarter of 2025. The agency's approval may set a precedent for integrating staking rewards in PoS-based cryptocurrency ETFs. However, given RexShares' recent actions, the SEC has indicated that Ethereum ETF staking may not receive approval and could be subject to securities laws.
Ethereum whales have gained $283 million in ETH
In addition to ETF inflows, blockchain analytics firm Arkham Intelligence has also identified a significant over-the-counter (OTC) transaction involving 108,278 ETH (worth approximately $283 million). On the other hand, Galaxy Digital's OTC wallet has withdrawn 89,000 ETH (worth $233.5 million) from exchanges in the past 12 hours.
