Spot Ether ETFS recorded an inflow of $452.72 million on Friday, extending its winning streak to 16 consecutive trading days. According to Sosovalue, this consistent inflow has brought a cumulative total of $9.333 billion since the launch of the US Spot Ether ETF.
BlackRock Etha led the activity on Friday, with net inflows coming at $440 million. The fund currently holds $10.69 billion under management, the largest share of all ether ETFs listed in the US.
Bitwise Ethw continued at $9.95 million. Fidelity Feth reported $70 million. Meanwhile, Grayscale S recorded a $23.49 million outflow. This brings the total redemption to $42.9 billion. This is the largest cumulative loss of any Ethereum ETF product.
In total, US spot ether ETFs manage $20.666 billion. This is equivalent to 4.64% of Ethereum’s market capitalization. On Thursday, ETH ETF trading volume reached $1.5 billion.
The influx of Ethereum ETFs began on July 2nd and have now more than doubled
The current inflow streak of spot ether ETFs began on July 2nd. At that point, the net inflow was $4.25 billion. Within three weeks, they more than doubled to $9.333 billion.
The largest single-day Ethereum ETF inflow occurred on July 16th, reaching $726.74 million. Several other days on their winning streak saw an influx of over $300 million.
Institutional and retail investors increased their exposure to ether ETFs during this period. This is due to increased interest in using Ethereum in defi, staking and smart contracts. Spot ether ETFs have allowed investment access without the need to directly retain ETH.
Bitwise CIO Matt Hougan commented on the trend in a July 23rd post. He said:
“As interest in stubcoins and tokenization is surged, we expect a strong ETP inflow for a long time.”
Ethereum Demand Forecast highlights the supply gap
Hougan estimated that demand for Ethereum could reach $20 billion from ETH Exchange-Traded products and corporate buyers over the next 12 months. Based on current ETH prices, this amounts to around 5.33 million ETH.
Meanwhile, Ethereum issuance over the same period is expected to remain close to ETH of 800,000. The numbers show that forecast Ethereum demand could well outweigh supply.
The influx of Ethereum ETFs indicates that ether is gaining traction through regulated investment vehicles. BlackRock Etha continues to lead daily inflows and asset size ahead of other Ethereum ETFs such as BitWise EthW, Fidelity Feth and Grayscale Ethe.
Bitcoin ETF regains momentum with $130 million inflows since the recent outflow
Bitcoin ETF recovered daily inflows on Friday. The Spot Bitcoin ETF raised $130.69 million following three loss sessions at the beginning of the week.
On July 21st, the net outflow of Bitcoin ETFs reached $131.35 million. On July 22 and 23, further redemptions were seen at $67.93 million and $85.96 million, respectively.
Despite these outflows, the total net worth of assets across the Bitcoin ETF remains at $151.45 billion. The cumulative inflow is currently at $548.2 billion. Earlier this month, inflows reached $1.18 billion on July 10th and $1.03 billion on July 11th.
