The long-awaited record has arrived: for 20 consecutive days, Ethereum has had inflows, and thus capital inflows, into its ETF. This is an enormously important result, sealed on a complicated day for the markets – mainly due to certain significant macro issues. 20 consecutive days of inflow that confirm an almost obsessive attention to the second cryptocurrency by market capitalization.

A result mainly achieved by BlackRock and Fidelity, whose ETFs, the most digestible for large investors, have continued to accumulate significant amounts over the past month, particularly in the first case.

Ethereum ETFs: now it’s a record

20 consecutive days with inflows, which due to the particular operation of ETFs means higher demand than the supply of the fund's shares. This is an enormous result that confirms, among other things, that the appetite for Ethereum has finally blossomed, even if a whole year has passed since the launch of these products.

All this while there is still anticipation for SEC's approval for staking, a feature that will make these ETFs profitable, and thus even more attractive to investors.

  • The current situation

The current situation actually plays against holding ETFs compared to liquid staking tokens like stETH, or even Ethereum staked directly.

The yield of almost 3% coming from staking still makes ETFs very unadvantageous. And it is this disadvantage that makes the result obtained by ETFs in the USA even more interesting.

Signal of altseason?

Our director Alessio Ippolito discussed this here, indicating all the unmistakable signals regarding the potential arrival of altseason. Much more convincing signals will be needed from other corners of the market – and also on other cryptocurrencies that are not Ethereum.

However, this boldness from the second in class is certainly an indicator of Wall Street's greater appetite for cryptocurrencies that are not Bitcoin and that, overall, have a more complicated value proposition to explain to those who have never been close to this world.

Not many are ready to bet on the fact that the trend will be lasting. However, who knows if the unlocking of other ETFs is not a precursor to a possible recovery of the altcoin world compared to the overwhelming dominance of Bitcoin, which has been absolutely uncontested from 2024 to today. Also, and especially due to the US ETFs, which are now attractive even when they include... something else.