Data from SoSoValue shows that BlackRock's Ethereum ETF (ETHA) recorded a net inflow of 67,899 ETH on August 25, equivalent to approximately $314.9 million. Trading activity was equally impressive, with volumes exceeding $2.4 billion in a single day.
This increase marks a trend reversal after the product suffered, in total, more than $924 million in capital outflows between August 15 and 20. This included a massive outflow of $429 million on August 19, the second-largest daily loss of the month. Other funds, such as Fidelity's Ethereum ETF (FETH) and Grayscale's Mini Ethereum ETF (ETH), also recorded substantial capital outflows during the same period.
In comparison, BlackRock's Ethereum ETF lost only $8.3 million last week before rebounding strongly. Since its inception, total cumulative inflows across all ETH ETFs have exceeded $12.43 billion, with a total net asset value of $30.58 billion.
Additionally, on August 22, ETH ETFs recorded a combined daily net inflow of 92,900 ETH. This raised spot ETF reserves to 6.6 million ETH, valued at $29.23 billion. This also equates to approximately 5.45% of Ethereum's circulating supply, highlighting the importance of ETFs in absorbing market liquidity.
BlackRock's ETHA fund led this trend with $233.5 million in new inflows, while Fidelity's fund added $28.5 million. Other issuers averaged around $6 million each. This indicated an overall improvement in investor confidence.
Interestingly, spot Ether ETFs have accumulated 6.6 million ETH, according to the Strategic ETH Reserve (SER) tracker. This represents a value of $29.23 billion and accounts for approximately 5.45% of Ethereum's available supply.
In light of this renewed interest, Tom Lee, head of research at Fundstrat and co-founder of BitMine, predicted that Ethereum could reach or be near its price bottom. Lee noted that fluctuations in the price of ETH could lead to greater stability, with the likelihood of a rebound.
The continued expansion of BitMine's treasury supports its optimism. The company recently added over 190,000 ETH ($873 million) to its reserves. As a result, its total holdings increased to 1.71 million Ethereum, valued at $8.8 billion. BitMine had also previously purchased 28,650 ETH when the price fell.
Lee's investment approach focuses on buying when prices are low. This belief supports his prediction that the market will reach a short-term bottom.
Tom Lee's optimistic forecast and the recovery of BlackRock's Ethereum ETF underscore the evolution of the market. Inflows indicate that institutional investors are regaining confidence after weeks of significant withdrawals. If Lee's prediction comes true, Ethereum could be on the verge of entering a new stabilization phase as ETF inflows strengthen.
