Spot Ethereum (ETH) Exchange Trade Funds (ETFs) listed in the US exceeded a cumulative net inflow of $4 billion on June 23, just 11 months after their market debut.
The product, launched on July 23, 2024, required 216 US trading sessions to accumulate its first $3 billion by May 30.
Following the $3 billion mark, Spot Ethereum ETFS added the next billion dollars in just 15 trading days, increasing its lifetime net subscription to $4.01 billion by the end of June 23rd.
These 15 sessions account for 6.5% of the 231-day transaction history, but account for 25% of all cash committed so far.
BlackRock Inflows Autpace Grayscale Redemptions
BlackRock’s Ishares Ethereum Trust (ETHA) pushed for expansion with a total inflow of $53.1 billion, while Fidelity’s Feth contributed $1.65 billion, while Bitwise’s ETHW added $346 million.
Grayscale’s Legacy Ethe Trust was converted to ETFs at launch, recording a $4.28 billion spill over the same period.
Daily flow data shows inflections. Etha absorbed more than $160 million on June 11 alone, and the complex booked five days, over $100 million between May 30th and June 23rd.
Grayscale redemptions have slowed down in the same window, and tally flows have increased dramatically.
Demand for commission structure and issuer mix shapes
Etha and Feth are consistent with the median sector, weakening Ethe’s 2.5% rate and charging a 0.25% administrative fee.
Cost reductions combined with established primary market relationships continue to flow towards BlackRock and Fidelity. On behalf of the wealth manager.
The report highlighted three factors as a driver in the June surge. The first is the price rebound of ETH compared to Bitcoin, consistent with clearer guidance on revenue within the Grantor-Trust ETF.
Finally, larger rebalancing orders from multi-asset allocators treating ETH as a portfolio expansion rather than a standalone speculative bet, contributed to a surge in inflows.
The next quarterly Form 13F deadline in mid-July will reveal whether professional managers have participated in the late spring push.
Until March 31, these companies account for less than 33% of Spot Ethereum ETF assets, suggesting room for wider institutional intake, even when retail is concentrated on low-cost vehicles.