Finance giants are rushing to Ethereum. In 13 days, ETH ETFs recorded $4 billion in purchases. Off-exchange accumulation, supply-demand imbalance: all indicators point to unprecedented bullish pressure. Bitcoin wavers, Ethereum captures the attention of crypto investors.
Spot ETFs on Ethereum listed in the United States have just completed their 13th consecutive day of positive net inflows. This flow intensified on July 22 with an influx of $533 million! Bringing the total to over $4 billion injected since the launch of crypto products.
Among the dominant players, BlackRock (ETHA) captures $426 million alone, followed by Fidelity (FETH) with $35 million. In total, Ethereum ETFs now accumulate $19.85 billion in assets under management, or 4.44% of ETH’s total market capitalization. This figure is all the more remarkable as it already surpasses the market shares held by Bitcoin ETFs at the same maturity stage.
This rise contrasts with the $68 million of net outflows recorded the same day by Bitcoin ETFs, especially through products from Bitwise (BITB) and ARK Invest (ARKB). The contrast highlights a potential reconfiguration of institutional preferences.
According to Matt Hougan, Chief Investment Officer at Bitwise, the crypto market faces a clear under-allocation to Ethereum. While ETH represents nearly 19% of the total cryptocurrency market capitalization, its ETPs capture only 12% of assets under management compared to Bitcoin’s.
Hougan estimates that ETFs, funds, and corporate treasuries could soon represent a structural demand of $20 billion in ether. In comparison, the protocol generates only about 0.8 million ETH per year. This 1:7 ratio between supply and projected demand could act as a catalyst for prices in the medium term.
This imbalance fuels a long-term vision where Ethereum, beyond its technology, becomes a rare and sought-after asset.
In addition to the $4 billion inflow over 13 days into Ethereum ETFs, on-chain flow analysis provides complementary insight. Indeed, on July 22, 76,987 Ethereum (about $285 million) were withdrawn from the Kraken crypto exchange, according to data compiled by Lookonchain.
Ethereum attracts billions, sees its supply contract, and draws finance giants. The current equation combines growing scarcity and exponential demand. This dynamic redefines the balances of the crypto market. Towards a lasting dominance of Ethereum over digital assets? Or will the prophecy of 21Shares, which sees Solana dethroning Ethereum in 2025, come true?
