Ethereum ETFs see $729M boost as ETH price nears all-time high

US-listed spot Ethereum exchange-traded funds (ETFs) notched another historic performance on Aug. 13, attracting more than $729 million in daily inflows.

This marks the nine funds seventh consecutive day of positive flows and their second-largest single-day haul since launching last year.

Notably, the achievement comes just two days after the Aug. 11 record, when inflows topped $1.02 billion.

BlackRock’s ETHA lead inflow

According to SoSo Value data, BlackRock’s ETHA led the charge with $500.9 million, followed by Fidelity’s FETH, which attracted $154.7 million. Meanwhile, Grayscale’s ETH and ETHE ETFs recorded $51.34 million and $7.83 million in inflows, respectively.

Other products, including Bitwise and Franklin Templeton ETFs, added a combined $14 million, while the remaining three ETFs showed no activity on the day.

Nate Geraci, President of NovaDius Wealth, highlighted the recent momentum by pointing out that three of the top six inflow days since launch have occurred this week.

He added that investors have injected $3 billion over the past seven trading sessions.

Ethereum ETFs flow fuel drive towards ATH

The surge in ETF inflows has coincided with a strong upward move in Ethereum’s price.

According to Geraci, these consistent ETF inflows challenge the narrative that these products merely served as exit liquidity. He pointed out that ETH’s price at the time of spot ETF launch in July 2024 stood at $3,500, compared with today’s $4,700.

According to CryptoSlate’s data, ETH is trading around $4,726 at press time, reflecting a 27% rally over the past seven days and more than 50% growth over the last month.

Despite this momentum, ETH remains roughly 2.75% below its all-time high of $4,864, set in November 2021.

Meanwhile, OKX US CEO Roshan Robert told CryptoSlate that Ethereum’s robust fundamentals are also driving the digital asset’s current upward momentum.

He noted that the ETF inflows are being complemented by record on-chain activity and growing staking participation, with over 36 million ETH, nearly one-third of supply, now locked.

According to him, this reduced float and surging demand for both spot ETH and staking products could set the stage for further price gains.

He added:

“The next chapter for ETH is whether Ethereum-led infrastructure can sustain and accelerate as ETF adoption grows and on-chain activity hits new records.”

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