On July 22, 2024, spot Ethereum ETFs were finally approved by the SEC (Securities and Exchange Commission). Since then, exchange-traded funds on ether (ETH) have experienced ups and downs, but today, they have managed to exceed 4 billion dollars in net capital inflows.
Spot Ethereum ETFs, approved by the SEC in July 2024, have crossed the threshold of 4 billion dollars in net inflows.
BlackRock's iShares Ethereum Trust ETF (ETHA) dominated with over 5.3 billion dollars in positive net flow, although Fidelity surpassed BlackRock on an exceptional day in June 2025.
The Ethereum ETF market continues to grow, billions of dollars are accumulating
Exchange-traded funds (or ETFs) based on Ethereum reached a new symbolic milestone on June 23, 2025. Indeed, according to tracking data from Farside Investors (see table below), the 9 spot ETH ETFs listed in the United States have accumulated a total of over 4 billion dollars in net inflows.
Not surprisingly, it is the iShares Ethereum Trust ETF (ETHA) supported by the giant BlackRock that leads these capital inflows, with over +5.3 billion dollars in positive net flow since its first listing on July 23, 2024. It is followed by Fidelity's Fidelity Ethereum Fund (FETH), which records +1.65 billion dollars in net inflows during this same 11-month period.
In fact, almost all ETH spot ETFs are in the positive, with the exception of course of Grayscale's Ethereum Trust ETF (ETHE). This old fund, converting to ETF with the others in July 2024, had much higher fees than its new competitors, causing a continuous outflow of capital from the ETHE. This hemorrhage, which fortunately seems to be calming down now, is close to -4.3 billion dollars in net outflows. This has obviously weighed down the results of the other 8 ETFs.
Once is not customary, Fidelity surpassed BlackRock on June 23, 2025
A rare occurrence during the trading day on this Monday, June 23, we can indeed observe (in the table above) that Fidelity's FETH fund has for once surpassed BlackRock's ETHA.
Thus, Fidelity's ETF recorded +60.5 million dollars in net inflows, while BlackRock's fund captured "only" +25.8 million dollars. And, another quite exceptional fact, the Grayscale ETF also experienced a positive capital flow, as the ETHE saw +9 million dollars in net inflows.
One thing is certain, the enthusiasm of institutional investors for spot Ethereum ETFs is growing. While it had been common for these wealthy institutional investors to maintain strong purchases on Bitcoin ETFs, this increasing attraction to ether is more recent. The question will be whether this rebound in investment will last over time.
