Spot Ethereum ETFs top $1 billion in daily net inflows for the first time

U.S. spot Ethereum exchange-traded funds surpassed the $1 billion mark in net inflows for the first time on Monday since their launch in July last year.

"Investors are increasingly recognizing Ethereum's value as both a store of value and a foundational layer for decentralized finance and Web3 innovation," said Nick Ruck, Director at LVRG Research. "This demand reflects growing institutional confidence in ETH's long-term potential."

According to data from SoSoValue, the nine ether ETFs attracted $1.02 billion worth of funds yesterday, led by BlackRock's ETHA, which saw $639.8 million in net inflows. 

Fidelity's FETH recorded $277 million worth of positive flows, which marks the fund's largest inflows to date. Grayscale's Mini Ether Trust reported $66.57 million in net inflows, while its ETHE attracted $13 million. Other funds from Bitwise, 21Shares, Franklin Templeton and VanEck also saw positive flows on the day.

While Monday marks the first time the spot ETH ETFs crossed the $1 billion mark, the funds have seen significant positive flows for an extended period. Since May, spot ether ETFs had over $8 billion worth of net inflows. With Monday's inflows, the cumulative total net inflows into ether ETFs have surpassed $10 billion, standing at $10.83 billion.

Kronos Research CIO Vincent Liu said the rise in inflows is backed by "relentless regulatory tailwinds and record-breaking TradFi treasury allocations," which are building deep liquidity pools, cementing Ethereum as a "cornerstone of mainstream crypto adoption."

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Meanwhile, spot bitcoin ETFs saw a relatively modest amount of inflows on Monday, totalling $178.15 million.

Ether itself has also appreciated significantly in price, rising 45% over the past month. According to The Block's Ethereum price page, the cryptocurrency is down 0.42% in the last 24 hours, trading at $4,284.