In the first two weeks of August, spot Ethereum ETFs in the US recorded net inflows exceeding 3 billion USD, marking the second strongest monthly performance ever, with more than two weeks still remaining in the month.
According to data from SoSoValue, an ETF tracker, spot Ethereum ETFs are on track to record the strongest inflow week since their inception, with total inflows exceeding 2.9 billion USD. Since Monday, inflows into ETFs have averaged over 700 million USD per day, with the strongest day being Monday when these funds recorded over 1 billion USD in inflows.
The increase in inflows for ETFs coincided with the strong performance of the underlying asset in August. On Thursday, the price of ETH reached a year-high of 4,765.83 USD. However, there was a sharp decline below 4,500 USD before recovering. At the time of writing, ETH is trading above 4,600 USD, up nearly 20% this week.
The increase in capital has pushed the total net assets of spot ETF products to a record 29.22 billion USD, reflecting a wave of new investment demand for exposure to ETH through managed investment vehicles.
Five-month streak of net inflows for spot Ethereum ETFs
According to data from SoSoValue, spot Ethereum ETFs have attracted a total net inflow of up to 12.73 billion USD since their inception. This asset class is also on track to extend its positive inflow streak for five consecutive months as it enters September.
On Thursday, spot Ethereum ETFs recorded a net inflow of 639.61 million USD. BlackRock's iShares Ethereum Trust (ETHA) led with a net inflow of 519.68 million USD, while Grayscale Ethereum Mini Trust (ETH) ranked second in daily inflow with over 60 million USD. Fidelity Ethereum Fund (FETH) ranked third with nearly 57 million USD in inflows.
The performance of ETH-based ETFs followed strong inflows on Wednesday, with 729 million USD invested in cryptocurrency investment vehicles. This marks the second strongest daily inflow record for spot Ethereum ETFs, only behind the record set on Monday.
Fundstrat predicts ETH will reach 15,000 USD by the end of the year.
As ETH continues to grow, Fundstrat's Chief Information Officer, Thomas Lee, has predicted that ETH will be the 'largest macro trade' in the next 10 years.
The head of digital asset research at the firm, Sean Farrell, stated that ETH could reach a price of 12,000 to 15,000 USD by the end of the year, emphasizing that this asset still has 'a lot of growth potential.'