Share this article
Ether Outpaces Bitcoin as ETF Inflows, Corporate Buying Accelerate: JPMorgan
The bank said ether holdings in both exchange-traded funds and corporate treasuries could rise further.
Updated Aug 21, 2025, 1:27 p.m. Published Aug 21, 2025, 12:54 p.m.
What to know:
- Spot ether exchange-traded funds pulled in $5.4 billion in July, matching bitcoin ETFs and while bitcoin funds have since seen modest outflows, ether vehicles continue to draw capital, JPMorgan said.
- Anticipated SEC approval of staking for ether ETFs, corporate treasury purchases and regulatory clarity on liquid-staking tokens are driving demand, according to the report.
- The bank said SEC approval of in-kind redemptions for ether ETFs is expected to lower costs, boost liquidity and further strengthen ether’s positioning versus bitcoin.
Ether has outperformed bitcoin over the past month, buoyed by strong inflows into spot exchange-traded funds (ETFs) and growing corporate treasury allocations, Wall Street bank JPMorgan (JPM) said in a report on Wednesday.
The move comes in the wake of U.S. stablecoin legislation (the GENIUS Act) and ahead of an anticipated vote on a broader crypto market structure bill by the end of September, the report said.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
In July, spot ether ETFs saw record inflows of $5.4 billion, nearly matching bitcoin ETF inflows over the same period. While bitcoin ETFs have posted modest outflows in August, ether funds continue to attract capital, JPMorgan noted.
The bank's analysts pointed to four main factors behind ether’s recent strength.
Investors are betting the Securities and Exchange Commission (SEC) will eventually permit staking for spot ether ETFs, which would turn them into yield-generating products while lowering technical barriers for participation.
Corporate demand is also rising, the analysts noted, with about 10 publicly traded firms now holding ether equal to a total of 2.3% of the circulating supply. Some of these companies may seek additional income through staking or decentralized finance (DeFi) strategies.
At the same time, the SEC has signaled that liquid-staking tokens may not qualify as securities, easing institutional concerns, and its approval of in-kind redemptions for spot crypto ETFs is expected to reduce costs, improve liquidity and limit forced selling during large withdrawals.
JPMorgan suggested ether holdings in both ETFs and corporate treasuries could rise further, pointing to bitcoin’s higher share of circulating supply locked up across both categories as a benchmark.
Read more: Ether Resurgence Gains Steam Backed by Spot ETF Demand and On-Chain Growth: Citi
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
DOT Sinks 2% After Breaking Key Support
The Polkadot token erased earlier gains amid elevated volume, falling from a high of $2.09 to $1.97.
What to know:
- DOT collapsed through ascending trendline support around the $2.05 level on a massive 284% volume surge.
- The token broke decisively below the support level to trade 2% lower over the last 24 hours.
Top Stories
