The first wave of U.S.-listed spot Ethereum exchange-traded funds (ETFs) has racked up nearly $8.7 million in net inflows in its first year on the market, according to public data compiled since the funds launched on July 23, 2024, despite heavy outflows out of Grayscale’s Ethereum Trust (ETHE).
That performance, while modest compared to their bitcoin counterparts, arrives alongside a surge in investor activity and price momentum. Over the past two weeks alone, the ETFs brought in more than $4.6 billion — nearly half of their total annual inflows — coinciding with a sharp uptick in ether’s (ETH) price.
ETH gained 26% during the week of July 14, after rising 16% the week before, outpacing much of the broader market. It is now trading at $3,704, up 11% on the year.
BlackRock’s iShares Ethereum Trust (ETHA) stood out among the pack by crossing $10 billion in assets under management this week. The milestone makes ETHA the third-fastest ETF in history to reach that figure, according to Bloomberg Intelligence’s Eric Balchunas. Only BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity’s Wise Origin Bitcoin Fund (FBTC) got there faster.
The spot Ethereum ETFs debuted just months after the blockbuster launch of spot bitcoin (BTC) funds, which attracted billions of dollars and renewed Wall Street’s interest in crypto-based products. The Ethereum lineup includes offerings from financial giants like Fidelity, VanEck, Franklin Templeton, Grayscale, and others.
The funds have now posted 15 straight days of net inflows, fueled by growing investor appetite and hopes for clearer crypto regulations in the U.S. The SEC has recently signaled openness to crypto legislation and industry engagement, prompting traders to rotate back into digital assets.