According to data from SoSoValue, on July 1 (Eastern Time), Ethereum spot ETFs recorded a total net inflow of $14.8948 million, ending a streak of nine consecutive trading days of net outflows. This turning point comes amid renewed market assessment of Ethereum's fundamentals and regulatory outlook.
Divergence in Fund Flows: Blackrock Leads, Grayscale Under Pressure
The Ethereum spot ETF with the highest single-day net inflow was Blackrock's ETHA, which attracted $36.6392 million, bringing its historical total net inflow to $11.095 billion. In contrast, Grayscale's Ethereum Mini Trust ETF ETH saw a net outflow of $18.464 million on the same day, accumulating historical net inflows of $1.809 billion. The divergence reflects different capital sources: Blackrock's ETHA continues to attract incremental funds through brand recognition and competitive fees, while Grayscale's product may be experiencing profit-taking or rotation into other assets.
Overall Scale and Market Share Remain Stable
As of press time, the total net asset value of all Ethereum spot ETFs stood at $8.563 billion, with an ETF net asset ratio (ETF market cap as a percentage of total Ethereum market cap) of 4.39%. Cumulative historical net inflows amounted to $10.86 billion. Despite the prior nine-day outflow streak, the overall asset base remains robust, suggesting that most holders have chosen to retain positions rather than exit, indicating sustained confidence in Ethereum's mid-term prospects.
The net inflow was predominantly driven by leading institutions like Blackrock, while Grayscale's outflow highlights structural divergence. Going forward, attention should be paid to the sustainability of ETF flows, as well as macro factors such as Ethereum mainnet upgrades and changes in staking yields, which could influence capital movement.