- Ethereum ETFs draw $2.2B in three days, nearly 7x Bitcoin’s inflows, pushing ETH within 4% of its all-time high.
- Monthly ETF demand now equals 500,000 ETH, outpacing the 450,000 ETH issued since the Merge, tightening supply.
- Bitcoin ETFs lag with $330.9M in the same period, fueling debate on whether ETH’s lead is sustainable.
Ethereum’s having a moment. For the third straight day, spot Ether ETFs have pulled in more money than their Bitcoin counterparts — and not by a little. Over just three days, they’ve racked up a staggering $2.2 billion in inflows, nearly seven times Bitcoin’s $330.9 million. That rush of capital is pushing ETH’s price to $4,775, less than 4% shy of its all-time high from November 2021.
Wednesday alone saw $729.1 million flow into Ether ETFs. BlackRock’s ETHA led the charge with $500.9 million, and Fidelity’s FETH followed with $154.7 million. Four other funds chipped in too, keeping the three-day winning streak alive. Monday’s $1.02 billion haul was the record-breaker, Tuesday brought $523.9 million, and now it’s clear: big players — from asset managers to corporate treasuries — are betting heavy on ETH.
Tightening Supply, Rising Price
What’s fueling the rally isn’t just hype. Monthly Ethereum ETF inflows are equivalent to about 500,000 ETH, yet since the Merge in September 2022, only around 450,000 ETH have been issued. That imbalance — more buying than fresh supply — is creating a squeeze that’s hard to ignore. Add in short liquidations ($127.4 million in the past 24 hours) and it’s no wonder ETH is moving fast.
Even corporates are scaling up. BitMine Immersion, already the largest corporate Ethereum holder, is aiming to raise $24.5 billion for even more ETH buys — a massive leap from their previous $4.5 billion raise. Ethereum co-founder Vitalik Buterin, however, isn’t without concerns, warning that too much treasury accumulation could lead to dangerous leverage if things turn speculative.
Bitcoin’s Slower Week
Bitcoin’s ETFs aren’t exactly tanking, but they’re clearly trailing. Wednesday’s $86.7 million in inflows looks tiny compared to Ethereum’s $704 million that same day. Over the three-day stretch, Bitcoin ETFs brought in $330.9 million total — a fraction of ETH’s pace.
Some Bitcoin maximalists are unconvinced the ETH rally will last. Samson Mow, a vocal BTC advocate, suggested this could just be another short-lived rotation before capital flows back into Bitcoin. His take was blunt: “No one wants ETH in the long run,” claiming ETH holders are pushing “new narratives” just to sell for BTC later.
