On Wednesday, American spot ETFs for Ethereum recorded a record daily inflow of $717 million. The majority was provided by the BlackRock ETHA fund with an inflow of $489 million, followed by Fidelity FETH with $113 million, according to Farside Investors.
As a result, all spot ETH-ETFs together hold over 5 million ETH, which accounts for more than 4% of the total supply of the coin.
The issuance, according to Ultra Sound Money, is not keeping up with demand. On the same day, the network issued only $6.74 million ETH, while ETFs bought nearly 107 times the issued volume.
Spot Ethereum ETFs attracted a record $717 million and now own more than 4% of all circulating ETH.
