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Ether ETFs Post Record $726M Daily Inflow as Analysts Signal ‘Deep Demand Shift’
BlackRock’s ETHA led the charge with nearly $500 million in new inflows and over $1.78 billion in trading volume.
Updated Jul 17, 2025, 4:32 p.m. Published Jul 17, 2025, 6:08 a.m.
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What to know:
- U.S.-listed ether funds saw a record $726.74 million in daily net inflows as ETH prices rose 8.1% to over $3,560.
- BlackRock's ETHA led with nearly $500 million in new inflows, followed by Fidelity's FETH and Grayscale's ETH.
- Analysts note a structural shift in ETH demand due to Digital Asset Treasuries, potentially tripling network demand.
Ether exchange traded funds (ETFs) just had their best day ever. The U.S.-listed funds attracted a record $726.74 million in daily net inflows on Wednesday, while ETH prices surged 8.1% to cross $3,560 — the token’s best single-day performance since March.
That resulted in cumulative ETF inflows of $6.48 billion with total net assets now exceeding $16.41 billion, or 4% of ETH’s circulating market capitalization.
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BlackRock’s ETHA led the charge with nearly $500 million in new inflows and over $1.78 billion in trading volume, followed by Fidelity’s FETH and Grayscale’s newly launched ETH, which added a combined $167 million.
But beyond the headline numbers, something deeper may be unfolding.
JLabs Digital’s Ben Lilly said in a Wednesday insight that a new wave of Digital Asset Treasuries (DATs) — funds and corporates accumulating ETH for yield, collateral, or payments — is changing the token’s demand profile.
“We’re seeing $100s of millions in ETH demand that simply didn’t exist before,” Lilly wrote, pointing to a dynamic similar to PayPal’s early crypto push. “This isn’t just inflow-driven price action. It’s a structural shift in how ETH is being held.”
Add to that a historically strong Moneyness Ratio — a metric capturing the share of ETH locked in productive use — and the market gets a flywheel few other tokens can replicate.
ETH network demand still clocks in at around $2 million per day, but analysts suggest it could triple as more applications and treasuries integrate the token. “Higher from here. Bid on,” Lilly added.
ETH is now up 22% month-to-date, and if the demand curve continues to steepen, we may still be far from reaching the peak of this move.
Read more: Ether Traders Eye Record Highs as ETH Jumps 8%; Bitcoin, BNB, SOL See Profit-Taking
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