Thomas Daniels
Spot Ethereum exchange-traded funds (ETFs) recorded $287.6 million in net inflows on Thursday, signaling a decisive reversal after four consecutive days of outflows. Over the preceding week, more than $924 million had exited the sector, with Tuesday alone witnessing $429 million in withdrawals—among the largest single-day outflows this month.
BlackRock’s iShares Ethereum Trust (ETHA) led Thursday’s surge with $233.5 million in net inflows, while the Fidelity Ethereum Fund (FETH) followed with $28.5 million. Smaller ETFs contributed an average of $6 million each. This renewed institutional interest pushed cumulative net inflows across Ether ETFs above $12 billion.
According to the Strategic ETH Reserve tracker, spot Ether ETFs now hold a combined 6.42 million ETH valued at approximately $27.66 billion—equivalent to 5.31% of Ether’s circulating supply. The total included a single-day inflow of 66,350 ETH.
Outside of ETFs, corporate treasuries and long-term institutional holdings now collectively account for an additional 4.10 million ETH, valued at $17.66 billion, representing 3.39% of circulating supply. SharpLink Gaming notably acquired $667 million in ETH earlier this week, lifting its holdings to over 740,000 ETH valued at $3.2 billion. This positions the company as the second-largest corporate ETH holder after Bitmine Immersion Tech, which owns approximately 1.5 million ETH.
This growing institutional concentration has sparked active debate among Ethereum community members. Some view corporate ETH accumulation as a net positive, citing reduced circulating supply and increased staking activity that could enhance network security. Others caution that centralization risks undermining Ethereum’s core principle of decentralization, particularly if large institutions control a significant share of the staking process.
Nonetheless, a segment of the community argues that institutional involvement signals mainstream validation. They contend that increased visibility and price support for ETH simultaneously enhance its utility in decentralized finance (DeFi), where it continues to function as a base asset for numerous protocols.
