Ether ETFs continue gaining investor trust with steady 16-day inflows totalizing over $9.33 billion.
- BlackRock’s ETHA gained $440 million on Friday alone.
- Grayscale’s ETHE saw $23 million in withdrawals.
- Total Ether ETF assets now represent 4.64% of Ethereum’s market cap.
BlackRock Continues to Dominate
BlackRock’s iShares Ethereum Trust (ETHA) led the market on Friday, attracting $440.10 million in net inflows. That’s over 97% of the day’s total $452.72 million. ETHA leads all U.S. Ether ETFs with $10.69 billion in assets under management.
Other funds like Bitwise’s ETHW and Fidelity’s FETH trailed far behind. ETHW added $9.95 million, while FETH brought in $7.30 million. In contrast, Grayscale’s ETHE saw outflows worth $23.49 million, extending its total outflows to $4.29 billion.
16-Day Streak Reflects Rising Investor Demand
This marks the 16th straight day of net inflows for U.S. spot Ether ETFs. Since the streak began on July 2, net inflows have surged from $4.25 billion to over $9.33 billion. Combined, the ETFs now manage $20.66 billion, equal to 4.64% of Ethereum’s market capitalization.
The trend shows growing interest in Ethereum, especially for its role in decentralized finance (DeFi), staking, and smart contracts. Investors believe this could help Ethereum become more valuable over time.
Long-Term Outlook Shows High Demand
Matt Hougan, CIO of Bitwise, said he expects strong demand for ETH exchange-traded products. He estimates that between ETPs and institutional investors, up to $20 billion worth of ETH might be needed in the next year. That’s around 5.33 million ETH.
This demand could outpace Ethereum’s projected new supply nearly seven times. The network is expected to issue just 0.8 million ETH during the same period. If correct, this supply-demand gap could impact Ethereum’s price positively.
Bitcoin ETFs Also Rebound
Bitcoin-based ETFs saw a smaller boost. On Friday, they brought in $130.69 million in inflows. Earlier in the week, they experienced withdrawals over $285 million combined. Now, their total net assets stand at $151.45 billion.
Still, Ether ETFs have outperformed their Bitcoin counterparts for six days in a row, a rare event in the crypto investment world.
Source: cointelegraph.com
