BlackRock Leads $287M Spike in Spot Ether ETF Inflows; ETF Reserves Top $27.66B
U.S. spot Ether exchange-traded funds recorded a rebound on Thursday, drawing roughly $287.6 million in net inflows and ending a four-day streak of withdrawals. This move marked renewed investor interest after several days of heavy outflows.
The pullback earlier in the week had been significant: funds shed over $924 million between Aug. 15 and the previous day, with Tuesday seeing about $429 million in redemptions. On Thursday, BlackRock’s iShares Ethereum Trust (ETHA) led the inflows with approximately $233.5 million, while Fidelity’s FETH added about $28.5 million; other spot Ether ETFs each contributed roughly $6 million on average. The fresh money pushed cumulative net inflows for these products above the $12 billion mark.
Separately, trackers show that combined spot Ether ETF reserves now total about 6.42 million ETH, valued at roughly $27.66 billion — equal to about 5.31% of Ether’s circulating supply. The funds recorded a daily net addition of around 66,350 ETH, lifting their overall holdings.
Beyond ETFs, corporate treasuries and long-term institutional holdings account for an additional estimated 4.10 million ETH (about $17.66 billion), representing roughly 3.39% of supply. Notable corporate activity includes a large purchase by SharpLink Gaming — a near-$667 million acquisition that pushed its holdings to more than 740,000 ETH — while Bitmine Immersion Tech remains the largest treasury holder with around 1.5 million ETH.
The concentration of ETH among large institutional holders has prompted debate within the community. Some observers argue that big treasury buys can tighten circulating supply and support price action (and may be staked to back the network), while others worry that increased institutional concentration could weaken decentralization and alter how value accrues in DeFi ecosystems.
Overall, the inflows and rising ETF reserves are being read as a sign of renewed institutional demand for spot ETH exposure, even as market participants continue to weigh the implications of heavier concentration among a smaller set of holders.
