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Key Insights:
- BlackRock’s ETHA led the surge in Ethereum ETFs milestone with $4.2 billion in inflows, pushing its total holdings past 3 million ETH.
- ETH outperformed BTC, driven by sharp ETF volume growth starting mid-July, signaling institutional capital rotation from Bitcoin to Ethereum.
- July had the highest monthly inflow since ETF inception, thereby beating the second-best month by 2.6 times.
July was a record-breaking month as spot Ethereum ETFs saw a staggering $5.4 billion inflows, scooping more than 1.6 million ETH. On July 31, the Ethereum fund clocked 20 consecutive days of inflows, the first such winning streak after its inception in mid-2024. BlackRock iShares Ethereum Trust (ETHA) dominated most inflows and market activity, taking its total holdings past 3 million ETH.
Ethereum ETFs Record $5.4 Billion Inflows in July
Spot Ethereum exchange-traded funds (ETFs) clocked a massive $5.4 billion in inflows in July, registering their highest monthly performance. As a result, these funds swallowed a whopping 1.6 million ETF from the open market. This marks the highest monthly inflow since ETF inception, surpassing the second-best month by 2.6 times.
During the same period, the price of ETH surged from $2,486 to $3,698, representing a 49% increase. July also posted Ethereum’s longest monthly green candle since October 2021, highlighting strong investor momentum.
BlackRock’s iShares Ethereum Trust (ETHA) led the inflows with $4.2 billion, accounting for 78% of total net inflows. Fidelity followed with $599 million, while Grayscale’s mini Ethereum fund attracted $459 million.
BlackRock’s ETHA hit multiple milestones in July, with assets under management that had reached $10 billion. This makes it the third-fastest ETF to hit this milestone within a year of launch, followed by BlackRock Bitcoin ETF (IBIT) and Fidelity’s FBTC. Furthermore, ETHA now holds more than 3 million ETH in its kitty, of which 1.25 million was acquired in July.
BlackRock’s iShares Ethereum ETFs recorded over $4 billion in inflows in July. This marks its highest monthly intake since launch and the largest single-month flow since inception.
Ethereum ETFs Absorb Most of New ETH Issuance
Ethereum ETFs absorbed significantly more ETH than the network issued in July. According to data, net new issuance for the month stood at approximately 72,263 ETH, while total net inflows into ETH ETFs reached around 1.6 million ETH.
This means Ethereum ETFs acquired roughly 22 times more ETH than was newly issued over the same period. This hints at a sharp surge in institutional interest for Ethereum. After a mammoth run-up last month in July, Ethereum ETF inflows are showing signs of cooling down.
On Thursday, the net inflows into spot Ether ETFs across all US issuers were $17 million. While BlackRock’s ETHA saw $18.4 million in inflows, Grayscale Ethereum Trust (ETHE) saw over $6 million in outflows.
As per the data from Strategic Ethereum Reserve, the net holdings of Ether ETFs have reached 5.88 million ETF, worth a staggering $21 billion.
ETH Takes A Lead In Capital Rotation from Bitcoin
Following the lows of April 2025, Bitcoin (BTC) has bounced back by a massive 66%. However, Ethereum has outperformed it with a massive 93% gain, according to the blockchain analytics firm Cryptoquant.
The divergence became more apparent in mid-July, when Ethereum broke out of its earlier trend of tracking Bitcoin. Instead, it led the broader crypto market rally here. A primary factor behind Ethereum’s breakout appears to be rising institutional demand through exchange-traded funds (ETFs), reported CryptoQuant.
While Bitcoin ETF volumes have remained relatively steady within a consistent range, Ethereum ETFs volumes saw a sharp uptick. During the last month, the ETH price also registered a strong 60% gain.
The ETH price is currently facing rejection at $4,000, and has retraced nearly 10% from there. As of press time, the ETH price is trading at $3,629, down 6% in the last 24 hours, amid the broader crypto market sell-off.
