Ether ETFs Shatter Inflow Records as Demand Shifts From Speculation to Utility
Ethereum ETFs just notched a historic milestone, pulling in a record $726.74 million in net inflows on Wednesday — the highest daily figure since their launch. The surge coincided with an 8.1% rally in ETH prices, pushing the asset to $3,560, its best one-day gain since March.
The inflows have now pushed total assets under management across ETH ETFs to $16.41 billion, or about 4% of ETH’s circulating market cap, with cumulative inflows reaching $6.48 billion.
BlackRock’s ETHA was the standout, attracting nearly $500 million in new capital and registering $1.78 billion in daily trading volume. Fidelity’s FETH and Grayscale’s new ETH product added a combined $167 million, further underscoring the appetite for Ether exposure.
A Structural Demand Shift?
While headline numbers are grabbing attention, analysts say a deeper transformation is underway.
According to Ben Lilly of JLabs Digital, a new wave of Digital Asset Treasuries (DATs) — corporates and funds accumulating ETH for staking, payments, or collateral use — is reshaping demand.
“This isn’t just ETF-driven price movement,” Lilly noted. “There’s now sustained demand from institutions seeking yield and utility, not just exposure.”
He compared the dynamic to early crypto adoption by PayPal, adding that this kind of structural buying represents a long-term shift in how ETH is used and held.
Ethereum’s Moneyness Ratio, which tracks how much ETH is engaged in productive activity, remains historically strong — another indicator that the asset is moving deeper into real economic use.
Outlook: More Upside in Sight?
Network demand still sits around $2 million daily, but that figure could triple, analysts say, as new applications and treasury integrations unfold.
With ETH up 22% month-to-date, analysts believe this could be the beginning of a broader repricing.
“If momentum holds and demand keeps climbing, we may only be in the early innings of this move,” Lilly said. “The path higher is still wide open.”
