Summary
- On Thursday, U.S. spot Ethereum ETFs experienced net inflows of $225.8 million, marking their highest single-day total since October 28, 2025.
- These funds have now recorded nine consecutive days of net inflows since August 17, totaling $1.42 billion.
- BlackRock's ETHA fund has contributed significantly, accounting for $1.02 billion of the total during this period, with purchases made every day of the nine-day stretch.
U.S. spot Ethereum ETFs saw a remarkable influx of $225.8 million on Thursday, the largest single-day increase in nearly 10 months, continuing a streak of nine consecutive days of net inflows.
The last instance of outflows occurred on August 11, according to data from Farside Investors, with August 14 being the only day since then that did not register any net flow. Since August 17, the total inflow has reached $1.42 billion, with Thursday's amount being the highest since October 28 of last year.
BlackRock has been a major player in this trend. Its ETHA fund has secured $1.02 billion over the nine-day span, constituting 72% of the total inflows in this category, and has recorded purchases every day without exception. Blockchain analytics company Arkham noted this streak on Thursday, highlighting that $889.8 million was accumulated in the first eight days, a figure that aligns with Farside's data.
BLACKROCK BOUGHT $888M OF ETH IN 8 DAYS
Clients of BlackRock have net-purchased $889.8M of the ETHA ETF over the past eight trading days, with consistent buying each day. pic.twitter.com/HIiiC0x46A
— Arkham (@arkham) August 27, 2026
Fidelity's FETH has also seen significant activity, having its most productive day of this run on Thursday with inflows of $56.2 million. Additionally, BlackRock's staked Ethereum product, ETHB, added $20.7 million that same day.
The gap between Ethereum and Bitcoin has narrowed considerably. U.S. spot Bitcoin ETFs recorded inflows of $242.3 million on Thursday, just $16.5 million more than Ethereum's gains. On August 17, the inaugural day of both funds' inflows, Ethereum's total was only a fraction of Bitcoin's.
As of Friday, Ethereum was trading around $2,477, reflecting a 0.5% decrease over the last 24 hours but a 5% increase for the week, based on data from CoinGecko.
Drivers of the Inflow
The surge in buying appears to be coming from outside the crypto sphere, according to Max Shannon, a senior research associate at Bitwise Europe. He indicated that this week's inflow amounted to $713.6 million, aligning with Farside's figures, and attributed the trend to an increase in Cross Asset Risk Appetite, which measures risk tolerance in traditional markets.
Despite this positive trend, Ethereum has lagged behind Bitcoin and other major altcoins during the same timeframe. Shannon noted that this was "justified considering its performance since the broader crypto rally began on August 19, especially over the last couple of months." He observed that capital has shifted towards "higher-beta blue-chip names such as ZEC, XRP, SOL, and HYPE," which have outperformed, and remarked that Bitwise's dispersion index has risen this week, indicating that the market is influenced by a wider variety of narratives.
Myriad: Predict Ethereum's next price movement.Shannon pointed out that Ethereum is currently trading near its 200-week moving average for the first time since it fell below this level in late January, which he described as a "crucial level to maintain" that could influence short- to medium-term momentum. He noted that investors have acquired approximately 1.1 million ETH around this threshold, which might serve as temporary resistance if those holders decide to sell during upward price movements.
However, these inflows may not be sufficient on their own. Shannon cautioned that "as flows are reflexive and based on momentum, an increase in spot volume is necessary for the market to maintain its stability," highlighting that spot volume has decreased to its 16th percentile year-on-year since the rally commenced on August 19.