Ethereum Spot ETFs See Largest Single-Day Inflow Since October

The Ethereum spot ETF market saw its largest single-day inflow in 10 months on August 19, with US-based products pulling in $189.15 million in net capital. This influx of funds comes after months of outflows and represents a significant turning point for the sector.

The majority of the buying activity came from BlackRock's ETHA product, which absorbed $122 million, accounting for approximately 65% of the day's total inflows. Fidelity's FETH followed with $36.54 million, while Grayscale's mini ETH fund added $16 million to the mix.

The cumulative inflows for August have now surpassed $530 million, making it the strongest month so far this year. This marks a significant shift from May and June, which saw combined net outflows of over $1 billion from spot Ethereum ETFs. The total net assets across all US spot Ethereum ETFs now sit at approximately $12.06 billion, representing nearly 4.5% of Ethereum's total market capitalization.

The supply dynamics in the ETH market are also tightening, with data showing a 15% decline in the amount of ETH sitting on exchanges over an eleven-week period. This has contributed to a price surge, with ETH reclaiming the $2,000 level and increasing by 18% in a single day.