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Spot Ethereum ETFs continue to dominate the inflows, clocking another $500 million on Tuesday, August 12. BlackRock’s iShares Ethereum Trust (ETHA) dominated most of the flows with its share price shooting another 6% on Tuesday. Ether ETFs have bounced back once again, crossing $1 billion in daily inflows on August 11. This renewed interest comes amid the ETH price rally, moving closer to its all-time high of $4,891.
Spot Ethereum ETFs Cross $11 Billion In Inflows
On Tuesday, August 12, inflows into spot Ethereum ETFs crossed $500 million, marking it the fifth-best day since launch. BlackRock’s ETHA led most of the inflows at $316 million, followed by Fidelity’s FETH at $144 million in net inflows. As a result, the net inflows across all US ETF issuers since inception have crossed more than $11 billion.
Over the past five trading sessions, spot ETH ETFs have attracted $2.3 billion in inflows. Since the start of July, these ETFs have accumulated nearly $1.5 billion more than their Bitcoin counterparts. This signals a notable shift in investor preference toward Ethereum.
On Tuesday, August 12, BlackRock’s Ethereum exchange-traded fund (ETHA) recorded net inflows of 70,802 ETH, valued at approximately $318.18 million. The ETHA shares clocked the second-highest daily trading volumes $2.2 billion. Thus, the interest in Ether ETFs continues to remain strong.
Ethereum ETFs Scoop 52 Times Daily ETH Issuance Amid Price Rally
On Tuesday, August 12, spot Ethereum ETFs recorded net inflows of approximately 127,403 ETH, worth a staggering $523 million. This is a massive 52 times more than the network’s net daily issuance of around 2,428 ETH ($11.1 million).
This clearly highlights strong institutional demand for ETH. On the other hand, the Ethereum price also rallied over 9%, surging past $4,700, and eyeing a potential breakout to new all-time highs above $5,000.
Amid this strong ETH price rally, banking giant Standard Chartered has revised its price targets once again to $7,500 by the year-end, from the previous target of $4,500. This dramatic revision in the ETH target comes on the backdrop of aggressive ETH purchases for corporate treasuries, spot Ether ETFs, etc.
In the latest research note, the Standard Chartered analysts wrote: “We now see ETH at USD 7,500 by end-2025 (USD 4,000 prior) and USD 25,000 by end-2028 (USD 7,500)”.
Geoffrey Kendrick, Head of Digital Assets Research at the firm, stated that ETH treasury firms and spot ETFs have accumulated about 3.8% of the total ETH supply since early June. He added that Ethereum treasury firms, including Bitmine Immersion and SharpLink Gaming, have purchased approximately 2.3 million ETH, which is 1.9% of the overall ETH supply. Spot Ethereum ETFs contributed to the remaining share.
BlackRock’s ETHA Share Price Hits $35
BlackRock’s iShares Ethereum Trust (ETHA) has been on investors’ radar, and has been on an unstoppable rally with 50% upside over the past month. This comes during the same period as BlackRock Ether ETF moves from $5 billion in inflows to $10 billion in inflows in a very short time frame.
On Tuesday, the ETHA share price ended gaining 6.2% and closing at $34.25. The stock has already surged by more than 25% over the past week, hitting new all-time highs. As of the pre-market trading hours on Wednesday, the stock has gained another 4%, surging past $35.
