U.S.-based spot Ether exchange-traded funds (ETFs) celebrated their one-year trading anniversary on Wednesday, riding the momentum of a three-week inflow streak that included some of their most robust days to date.
The U.S. Securities and Exchange Commission approved the launch of these spot Ether ETFs on July 23, 2024. Funds from major issuers—BlackRock, Fidelity, 21Shares, Bitwise, Franklin Templeton, VanEck, Invesco, and two from Grayscale—began trading on that day.
Over the past year, the nine ETFs have collectively attracted approximately $8.69 billion in net inflows and now hold $16.57 billion in assets under management, according to data from CoinGlass.
Remarkably, nearly $3.9 billion of those inflows have poured in during the last 14 consecutive trading days, marking a strong and uninterrupted streak of investor interest.
Ether (ETH) has faced challenges over the past year in reclaiming its all-time high of nearly $4,900 set in November 2021, while Bitcoin has surged ahead. ETH has fluctuated within a wide trading range—hitting highs of $4,000 in December and dipping to lows around $1,500 in April.
Ether ETFs have often taken a back seat to their Bitcoin counterparts, which debuted earlier in 2024 and have since attracted nearly $54.5 billion in net inflows—far outpacing Ether-focused products.
As of now, ETH is trading above $3,600, down slightly on the day but showing a 12-month gain of over 8%, according to CoinGecko.
One year in, daily inflow ranks as seventh-highest since launch
U.S. Ether ETFs celebrated their first anniversary with their seventh-largest single-day inflow, pulling in $332.2 million on Wednesday.
According to NovaDius Wealth Management president Nate Geraci, six of the top seven inflow days for the ETFs have occurred within the past two weeks, as he noted on X.
The funds together had their best-ever inflow day on July 16, taking in $726.6 million.
BlackRock’s ETF helps offset Grayscale outflows
BlackRock’s Ether ETF — the iShares Ethereum Trust ETF (ETHA) — has dominated net inflows over the past year, bringing in $8.9 billion.
This strong performance has helped offset nearly $4.3 billion in outflows from the Grayscale Ethereum Trust ETF (ETHE). Originally launched as a trust in 2017 and later converted to an ETF, Grayscale’s fund has seen investor exits as its discount to net asset value narrowed.
Nate Geraci noted on X that “nearly 1,000 ETFs have launched” since the Ether ETFs began trading, and BlackRock’s ETHA “leads all of them in inflows.”
Staking Approval Could Usher in Next Phase for Ether ETFs
Ether ETF issuers are now exploring the addition of staking to their products—allowing investors to earn rewards from the Ethereum blockchain for locking up assets to help secure the network.
Analysts believe the SEC could approve staking-enabled ETFs as soon as this month, potentially paving the way for other crypto ETFs, including those tracking baskets of digital assets or Solana-specific funds.
Earlier this month, the first-ever ETF with staking capabilities launched, a joint effort by REX Shares and Osprey Funds. The fund holds Solana and actively stakes it, distributing rewards to its investors.
