U.S. spot Ether ETFs took in $96 million in net inflows across just the first three trading days of this week, already surpassing the prior week’s full total of $84 million, according to data reported by CoinDesk. The move comes as ETH climbed roughly 11% over seven days to trade near $1,920, outperforming the rest of the large-cap crypto market by a wide margin.
BlackRock‘s ETHA fund accounted for the overwhelming majority of the buying, absorbing $45.3 million of the $53.8 million in total ETF inflows recorded on Wednesday alone — more than 84% of the day’s total. The remaining eight ether ETF products split less than $5 million between them, while Grayscale’s higher-fee ether trust, which charges 2.5% against BlackRock’s 0.25%, continued to bleed assets and has now lost $5.3 billion since launch.
Part of the demand traces to a new structural source: Robinhood Chain, a layer-2 network the brokerage launched on July 1, pays gas fees in ether and has been processing more than $800 million in daily decentralized exchange activity, most of it memecoin trading. Every transaction on the chain requires ETH, tying the network’s growing usage directly to token demand. Bitcoin, by contrast, is up about 4% over the same stretch, with U.S. spot BTC ETFs showing choppier flows — a $424 million outflow on July 13 followed by a $181 million inflow the next day.
Technically, the rally has pushed ETH’s daily RSI above 65, a level that Ted Pillows, a technical analyst, has noted historically preceded near-term price peaks — a signal traders are watching closely even as the broader flow picture remains constructive. With Ethereum’s spot ETFs having broken an eight-week outflow streak just last week, the acceleration in BlackRock-led buying suggests institutional allocators are treating the current move as more than a short-lived bounce, though a single week of inflows is not yet a confirmed trend reversal.
