According to data from the cryptocurrency ETF tracking platform SoSoValue, the U.S. spot Ethereum (ETH) exchange-traded fund (ETF) recorded a net inflow of $287.6 million on Thursday, ending a four-day streak of outflows.
Previously, the ETF had seen a cumulative net outflow of over $924 million from August 15 to Wednesday. The largest single-day withdrawal this month occurred on Tuesday, with the spot ETH ETF experiencing an outflow of $429 million, second only to the $465 million outflow on August 4, marking the second-largest single-day net outflow of the month.
BlackRock's iShares Ethereum Trust (ETHA) recorded a net inflow of $233.5 million on Thursday, followed by the Fidelity Ethereum Fund (FETH) with a net inflow of $28.5 million. Other ETFs had an average net inflow of about $6 million on the same day.
The latest inflow brings the total net inflow to over $12 billion, indicating a resurgence in investor demand after a week of withdrawals.
According to data from the ETH reserve tracking platform Strategic ETH Reserve (SER), the current total holdings of spot Ethereum (ETH) ETFs amount to 6.42 million ETH, with a total value of $27.66 billion. This investment product saw a net inflow of 66,350 ETH in a single day, bringing its total reserves to 5.31% of the circulating supply of Ethereum.
In addition to ETFs, corporate reserves and major institutional long-term holdings have reached 4.1 million ETH, valued at $17.66 billion. SER data shows that this portion of holdings accounts for 3.39% of the total supply of Ethereum.
Companies like SharpLink Gaming continue to make significant purchases of ETH. On Tuesday, SharpLink Gaming bought $667 million worth of ETH near historical highs, increasing its holdings to over 740,000 ETH, valued at $3.2 billion.
SharpLink is currently the second-largest corporate holder of ETH, second only to Bitmine Immersion Tech, which holds 1.5 million ETH.
The concentration of ETH holdings among major institutions has raised questions among community members about whether corporate purchases of ETH truly bring value to the ecosystem.
On Wednesday, a Reddit user posted a discussion about how corporate concentration of ETH empowers Ethereum, arguing that Ethereum is the foundation of decentralized finance (DeFi).
One community member stated that the positive impact is reflected in price movements, which can reduce circulating supply. Additionally, ETH purchased by institutions may also be used for staking, providing support for the network.
Another community member disagreed, believing that the number of stakers in the network is already "more than enough," and that the role of new stakers is limited.
This member argued that the new staking actions of centralized entities could lower the level of decentralization, which is one of the core values of the Ethereum network.
Some Reddit users believe this is good news for the ETH community, stating that corporate purchases increase the visibility of ETH, making the asset more valuable. This user also mentioned that as the price of ETH rises, the utility of DeFi will also improve, as ETH plays a role as a foundational asset in many protocols.
Related: Bitcoin ETF faces five consecutive declines, Pomp claims BTC is oversold.
Original article: “BlackRock Leads $287 Million Inflows into Spot Ethereum (ETH) ETF, Ending Four-Day Outflow Trend”
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