Spot Ethereum ETFs Surpass $4 Billion in Net Inflows

According to PANews, as of June 23, spot Ethereum ETFs listed in the United States have accumulated net inflows exceeding $4 billion, just 11 months after their launch. These financial products were introduced on July 23, 2024, and after 216 U.S. trading days, they reached $3 billion in net inflows by May 30. Following the $3 billion milestone, the spot Ethereum ETFs added another $1 billion in just 15 trading days, bringing the total net subscriptions to $4.1 billion by the close of June 23. These 15 trading days account for 6.5% of the 231-day trading history but represent 25% of all funds invested to date. BlackRock's iShares Ethereum Trust (ETHA) led this growth with total inflows of $5.31 billion, while Fidelity's FETH contributed $1.65 billion, and Bitwise's ETHW added $346 million. In contrast, Grayscale's traditional ETHE trust, which converted to an ETF upon launch, recorded outflows of $4.28 billion during the same period. Daily fund flow data highlights this shift: on June 11 alone, ETHA absorbed over $160 million, and between May 30 and June 23, the trust saw inflows exceeding $100 million on five trading days. Concurrently, Grayscale's redemption rate slowed, significantly boosting total inflows. ETHA and FETH charge a management fee of 0.25%, aligning with the industry median and lower than ETHE's 2.5% rate. A report by CoinShares indicates that lower costs, combined with established primary market relationships, continue to drive inflows towards BlackRock and Fidelity. The report, which consulted brokers representing wealth managers, identified three factors driving the June surge: a rebound in ETH prices relative to BTC, coinciding with clearer IRS guidance on staking income in grantor trust ETFs, and large-scale rebalancing orders from multi-asset allocators viewing Ethereum as a portfolio extension rather than a speculative bet. The next quarterly 13F filing deadline in mid-July will reveal whether professional managers joined the late-spring influx. As of March 31, these entities accounted for less than 33% of spot Ethereum ETF assets, suggesting room for broader institutional participation despite retail funds concentrating on low-fee instruments.