Spot Ethereum exchange-traded funds (ETFs) continued their impressive performance Tuesday with $533.87 million in net daily inflows, extending their 13-day inflow streak to a cumulative $4.07 billion, according to SoSoValue data. Since the rally began on July 3, total net inflows into Ether ETFs have more than doubled from $4.25 billion to $8.32 billion.
BlackRock’s iShares Ethereum Trust (ETHA) led Tuesday’s surge with $426.22 million in inflows, pushing its assets under management above $10 billion—the largest share of the ETH ETF market. Fidelity’s FETH came next with $35 million in net inflows.
The 13-day streak also included record-breaking volumes on July 16 and July 17, with $726.74 million and $602.02 million in net inflows, respectively—the highest since Ether ETFs debuted.
“Falling BTC dominance and growing institutional appetite for ETH exposure are driving this momentum,” said Vincent Liu, CIO of Kronos Research.
Currently, $19.85 billion in assets are locked in Ethereum ETFs, representing 4.44% of ETH’s total market cap.
Institutional Demand Could Outpace ETH Supply by 7x
In a post on X, Bitwise CIO Matt Hougan noted that while Ethereum’s market cap is about 19% of Bitcoin's, Ether ETPs hold just 12% of the assets of BTC ETPs—suggesting further room for ETH accumulation.
“Between ETPs and companies adding ETH to balance sheets, demand could reach $20B over the next year—or about 5.33 million ETH at current prices,” Hougan estimated.
By contrast, Ethereum’s network is projected to issue only 800,000 ETH over the same period, implying demand could outpace supply by nearly 7 times, potentially driving prices higher.
On-Chain Activity Confirms Accumulation Trend
On-chain data also signals strong ETH accumulation. According to Lookonchain, five new wallets withdrew 76,987 ETH (~$285 million) from Kraken on Wednesday, indicating reduced exchange supply—a classic bullish signal.
Bitcoin ETFs See $67M in Outflows
While Ethereum products posted strong gains, spot Bitcoin ETFs saw net outflows of $67.93 million on the same day. The biggest pullbacks came from:
Bitwise BITB: -$42.27M
ARKB: -$33.18M
Grayscale’s GBTC was the only Bitcoin ETF to register inflows, with a modest $7.51 million gain.
This follows massive inflows earlier in July—$1.18 billion on July 10 and $1.03 billion on July 11—signaling possible profit-taking or a shift toward altcoin exposure amid declining BTC dominance.
