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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.
ETF (viarami/Pixabay)

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.

(SoSoValue)
(SoSoValue)

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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