NEW YORK, July 30, 2024 - On Tuesday, July 30, spot Ethereum ETFs in the U.S. experienced positive net inflows, with BlackRock’s iShares Ethereum Trust (ETHA) leading the charge by securing $118 million in inflows. Despite these significant movements, the price of Ethereum has remained steady, hovering around $3,300 at the time of writing.

Since its launch, the ETHA ETF has seen inflows every day, bringing its total to over $618 million across just six trading sessions, according to Farside Investors. This impressive performance has positioned ETHA among the top 15 ETFs by inflows, as noted by ETH Store President Nate Geraci. Out of the more than 330 ETFs launched in 2024, ETHA's achievement stands out, although Geraci highlights that the top four ETFs by inflows are predominantly spot Bitcoin ETFs.

BlackRock’s Chief Investment Officer, Samara Cohen, indicated that model portfolios might start incorporating exposure to Ethereum ETFs by the end of the year.

In contrast, the Grayscale Ethereum Trust (ETHE) has continued to experience outflows for the sixth consecutive trading day, with $120 million in outflows on Tuesday, bringing the total to over $1.8 billion. However, Grayscale’s Mini-ETH and Fidelity’s FETH saw positive inflows of $12.4 million and $16.4 million, respectively, resulting in a net positive flow of $33.7 million on Tuesday.

Despite the ongoing outflows from ETHE, there is a silver lining as the pace of these outflows has been decreasing. Mads Eberhardt, a senior crypto analyst at Steno Research, suggests that outflows from the Grayscale Ethereum Trust could soon fall below $100 million.