Ethereum ETFs hit $226M in single-day inflows, narrowing gap with Bitcoin

Ethereum funds pull $225.8 million on strongest day in 10 months

U.S. spot Ethereum ETFs recorded their best day since late October 2025 on Thursday, bringing in $225.8 million. The inflows extend a buying streak that now spans nine consecutive trading sessions.

According to Farside Investors data, the funds have attracted $1.42 billion since August 17. The last day of net outflows was August 11, with only one session on August 14 showing no net movement.

BlackRock drives the majority of the buying

BlackRock's ETHA fund accounted for $1.02 billion of the total, or 72% of the category's inflows. The fund has recorded net buying every single day of the nine-day streak.

Blockchain analytics firm Arkham highlighted the activity on Thursday, noting that $889.8 million had flowed into ETHA across the first eight days. Fidelity's FETH fund was the second-largest taker, recording its best day of the streak on Thursday with $56.2 million in inflows. BlackRock's staked Ethereum product, ETHB, added another $20.7 million that same day.

Gap between Ethereum and Bitcoin inflows shrinks

The difference between Bitcoin and Ethereum ETF inflows has narrowed significantly. U.S. spot Bitcoin ETFs took in $242.3 million on Thursday, just $16.5 million more than Ethereum's haul.

At the start of the current streak on August 17, Ethereum funds collected only a tenth of what Bitcoin funds did. The rapid catch-up suggests growing institutional interest in the second-largest cryptocurrency.

Flows appear to come from traditional markets

Max Shannon, senior research associate at Bitwise Europe, said the buying is likely coming from outside the crypto industry. He attributed the week's $713.6 million in inflows to a rise in "Cross Asset Risk Appetite," a measure of how willing traditional investors are to take on risk.

Shannon noted that Ethereum has still lagged behind Bitcoin and other major altcoins like Solana and XRP over the broader rally that began in mid-August. Capital has rotated into these higher-risk assets, which have outperformed Ethereum.

He also pointed out that Ethereum is currently trading near its 200-week moving average, an important technical level that has not been tested since late January. Approximately 1.1 million ETH was accumulated around this price point, which could act as resistance if those holders sell.

Spot volume remains a concern

Despite the strong ETF flows, Shannon warned that the momentum may not be sustainable on its own. He pointed out that spot trading volume has softened to its lowest level in 16 months compared to the same period last year since the rally began.

For the market to maintain its footing, spot volume needs to pick up alongside the ETF inflows, he said.

Ethereum was trading around $2,477 on Friday, down 0.5% over 24 hours but up roughly 5% for the week, according to CoinGecko data.

• Decrypt