US spot Ether exchange-traded funds (ETFs) posted their second-largest daily inflows on record as the cryptocurrency neared new all-time highs.
On Wednesday, Ether funds attracted $729 million, with ETH surpassing $4,700 for the first time since November 2021, according to data from SoSoValue.
This marked the second-biggest single-day inflow into spot Ether ETFs, trailing only Monday’s record $1.02 billion inflow.
Notably, Wednesday’s inflows were just 0.5% above the previous high of $727 million, recorded on July 16 when ETH was trading around $3,150, according to CoinGecko data.
$2.3 billion of inflows in three days
Wednesday’s inflows were largely driven by BlackRock’s spot Ether ETF, iShares Ethereum ETF (ETHA), which pulled in over $500 million, according to SoSoValue. Fidelity’s Ethereum Fund (FETH) followed in second place with $155 million.
Thanks to the recent surge, spot Ether ETFs have amassed roughly $2.3 billion in inflows over the past three days, surpassing the previous weekly record of $2.12 billion set between July 14 and July 18—an 8.5% increase.
The latest inflows mark a significant jump from the $270 million recorded in spot Ether ETFs over the previous week. Spot Ether ETFs have now seen seven consecutive days of inflows, totaling $3.07 billion during this streak.
Data from SoSoValue shows that total net inflows into Ether funds reached a record $12.1 billion on Wednesday, while trading volumes also hit an all-time high of $4.5 billion.
“Ethereum FOMO is just getting started”
As Ether ETFs continue reaching new highs amid the ongoing ETH rally, many analysts expect the record-setting trend to persist.
Commenting on Wednesday’s $729 million inflow into spot Ether ETFs, crypto market observer Ted Pillows wrote on X on Thursday that the “Ethereum FOMO is just getting started.”
The ongoing ETH rally has been a key driver of rising inflows, with the cryptocurrency climbing nearly 29% over the past week.
“The higher the price, the bigger the inflows,” crypto analyst ZeroHedge noted in an X post on Thursday.
At the time of publication, Ether was trading at $4,744, roughly 3% below its all-time high of $4,878 set on November 21, 2021, according to historical data from CoinGecko.
