US-based spot Ethereum ETFs experienced a record-breaking day on July 16th, attracting a massive $726.74 million across nine different investment vehicles.
Insights from SoSo Value indicate a resurgence of interest in Ethereum among larger investors. BlackRock’s iShares Ethereum Trust (ETHA) was the primary beneficiary, absorbing nearly $500 million in a single trading session. This influx elevated ETHA’s total managed assets to an impressive $7.7 billion.
Fidelity’s Ethereum Fund (FETH) also posted strong figures, drawing in excess of $113 million during the same timeframe.
Other Ethereum-linked funds also benefited from increased investment activity.
Grayscale’s offerings centered around Ethereum secured $87 million, while Bitwise’s ETHW ETF saw inflows of $14 million. Franklin Templeton’s EZET recorded inflows amounting to $5 million. Additionally, Invesco’s QETH and VanEck’s ETHV experienced gains of $3.7 million and $3.6 million, respectively.
Collectively, these Ethereum ETFs now boast a combined asset pool of $16 billion. Since their initial launch, they’ve attracted over $6 billion in total net capital inflows.
This substantial uptick in investment marks a noteworthy change in market perception. Following a period of relative inactivity, interest in Ethereum funds started to show signs of revival towards the close of April.
This positive trend strengthened throughout June and is now accelerating, with these funds receiving $1.8 billion in new capital over the most recent five trading sessions.
Fueled by this latest wave of investments, the price of ETH has broken past $3,400, reaching a high not seen in over half a year.