Spot Ether ETFs are seeing explosive demand in the US, raking in more than 10 times the inflows of their spot Bitcoin counterparts over the past five trading days.
Since Aug. 21, spot Ether ETFs have pulled in a massive $1.83 billion, compared to just $171 million for Bitcoin funds, data from CoinGlass shows.
The momentum carried into Wednesday, with nine Ether funds attracting $310.3 million in inflows, while 11 Bitcoin funds managed only $81.1 million.
Ether has also outperformed Bitcoin in price recovery this week—ETH is up 5% from its Tuesday low, while Bitcoin gained only 2.8% over the same period.
The sharp investor shift toward Ether hasn’t gone unnoticed, with Ethereum educator and investor Anthony Sassano calling the trend “brutal.”
Meanwhile, NovaDius Wealth Management president Nate Geraci noted that spot Ether ETFs are approaching $10 billion in inflows since early July.
Having traded for 13 months, spot Ether ETFs have accumulated $13.6 billion in total inflows, with the bulk arriving over the past couple of months.
By contrast, spot Bitcoin ETFs have been on the market for 20 months and have drawn a cumulative $54 billion.
The Wall Street token
The momentum appears to be tilting toward Ethereum after the passage of the GENIUS Act stablecoin legislation in July, given the network’s dominance in stablecoins and tokenized real-world assets.
“It’s very much what I call the Wall Street token,” VanEck CEO Jan van Eck remarked in an interview with Fox Business this week.
At the same time, Bloomberg ETF analyst James Seyffart highlighted that investment advisers are the largest holders of Ether ETFs, with $1.3 billion in exposure. SEC filings show Goldman Sachs leading the pack, holding $712 million worth of Ether ETFs.
ETH was trading down 1.2% on the day at $4,560 at the time of writing, according to CoinGecko.
