Source: cryptoslate
Compiled by: Blockchain Knight
As of June 23, the net inflows of the US-listed spot Ethereum ETF exceeded $4 billion, just 11 months after its launch.
These products were launched on July 23, 2024, and after 216 US trading days, they achieved cumulative net inflows of $3 billion as of May 30.
After surpassing the $3 billion mark, the spot Ethereum ETF added $1 billion in just 15 trading days, reaching a lifetime net subscription amount of $4.01 billion as of the market close on June 23.
These 15 trading days accounted for 6.5% of the 231-day trading history but represented 25% of all capital invested to date.
BlackRock's iShares Ethereum Trust (ETHA) drove this growth with $5.31 billion in total inflows, while Fidelity's FETH contributed $1.65 billion, and Bitwise's ETHW added $346 million.
Meanwhile, Grayscale's traditional ETHE trust (which converted to ETF upon launch) recorded outflows of $4.28 billion during the same period.
Daily fund flow data shows this change: on June 11 alone, ETHA absorbed over $160 million, and during the period from May 30 to June 23, the trust had five trading days with inflows exceeding $100 million.
During the same period, Grayscale's redemptions slowed down, leading to a significant increase in total inflows.
ETHA and FETH charge a management fee of 0.25%, which is on par with the industry's median and lower than ETHE's 2.5% rate.
According to a report by CoinShares, lower costs combined with established primary market relationships continue to direct inflows toward BlackRock and Fidelity.
The report discusses with brokers representing wealth managers, highlighting three factors driving the surge in June: first, the rebound of ETH price relative to BTC coincided with more clarified guidance from the IRS regarding staking income in grantor trust ETFs.
Finally, large-scale rebalancing orders from multi-asset allocators also fueled the surge in inflows, as they view Ethereum as an extension of their portfolio rather than an independent speculative bet.
The upcoming quarterly 13F filing deadline in mid-July will reveal whether professional managers participated in the capital influx seen in late spring.
As of March 31, these companies accounted for less than 33% of the assets in the spot Ethereum ETF, indicating that even with retail funds concentrating on low-cost tools, there is still room for widespread institutional participation.
