Ethereum ETFs saw $1B in daily inflows, led by BlackRock’s $640M purchase, marking their strongest buying activity since launch last year.
Whales and corporate treasuries added over $400M in ETH alongside ETF buys, intensifying market demand and driving prices to yearly highs.
Favorable macroeconomic data and rate cut expectations are adding momentum to Ethereum’s price, which is nearing its $4,800 all-time high.
Ethereum ETFs recorded a surge in buying activity, collectively purchasing $1 billion worth of ETH in a single day. On-chain analytics firm Arkham reported that BlackRock accounted for $640 million of the total. Fidelity followed with $270 million in acquisitions, while Grayscale added $80 million.
The activity coincided with the ETFs’ best day since their introduction last year. BlackRock’s ETH ETF marked a personal best with $640 million in daily inflows. Fidelity recorded $276.90 million, while all Ethereum ETFs except Invesco posted net inflows. Since May, the group has accumulated more than $8 billion in net inflows.
Price Momentum Builds
The intensified demand helped push ETH above $4,500 for the first time this year, bringing it close to its record high near $4,800. The rally gained additional support from Ethereum-focused corporate actions, including BitMine expanding its stock offering to $24.5 billion for further ETH acquisitions. The firm already holds more than $5 billion in Ethereum.
https://twitter.com/arkham/status/1955311926885351624
Whale activity also contributed to the market movement. Arkham tracked two major purchases totaling $220.7 million, one involving $137.8 million acquired from FalconX and the other $82.9 million from Galaxy Digital OTC. Ethereum treasury company SharpLink Gaming added 5,226 ETH worth $23.1 million, increasing its total holdings to 604,026 ETH valued at $2.69 billion.
Corporate and Macroeconomic Factors
SharpLink recently secured $200 million through a sales agreement and raised a total of $900 million in the past week to advance its Ethereum strategy. On the macroeconomic front, U.S. CPI data came in at 2.7%, below expectations, increasing the likelihood of a September Federal Reserve rate cut. Lower interest rates typically encourage risk-on sentiment, benefiting cryptocurrencies such as Ethereum.
Institutional inflows, corporate treasury expansion, and favorable economic indicators are collectively strengthening Ethereum’s upward trajectory. The combination of ETF accumulation and direct whale purchases is sustaining momentum toward the previous all-time high.
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