Ethereum ETFs Surpass Bitcoin for the First Time in Daily Inflows
In a major first for the crypto market, Ethereum has overtaken Bitcoin in daily inflows to U.S.-based spot exchange-traded funds (ETFs). According to fresh data from SoSoValue, spot Ethereum ETFs saw net inflows of $602 million on Thursday, surpassing the $522.6 million that flowed into Bitcoin ETFs the same day. This marks the first time Ethereum has led the market in ETF inflows since spot crypto ETFs were introduced in the U.S. 18 months ago.
The shift signals growing institutional interest in Ethereum as an investment asset, especially in the wake of new developments such as potential staking features and high yields. Until now, Bitcoin had consistently dominated inflows since spot ETFs began trading in the U.S. in July 2024.
Ethereum ETFs Gain Momentum
This milestone comes just one day after Ethereum ETFs broke their own record, raking in a staggering $726 million in daily inflows. That surge pushed total holdings across U.S. Ethereum ETFs to nearly five million ETH, lifting the asset’s spot price above $3,400—its highest level since January 2025.
Leading Thursday’s surge was BlackRock’s iShares Ethereum Trust (ticker: ETHA), which alone brought in about $550 million. This marked the second straight day ETHA set a new personal record for inflows. ETHA even outperformed BlackRock’s flagship Bitcoin ETF, IBIT, during the same period.
Over the past five trading sessions, ETHA has added $1.25 billion in inflows and now holds nearly $7 billion worth of ETH. That accounts for almost 20% of the total assets currently held in all U.S. Ethereum ETFs.
Analyst Insight and Market Drivers
Bloomberg analyst James Seyffart provided further context on social media, noting that U.S. spot Ethereum ETFs have attracted more than $5.5 billion in total since their start. More than $3.3 billion of that has come in since mid-April 2025 alone.
Part of this surge in inflows is tied to rising profits from a trading strategy known as the “cash-and-carry” basis on CME Ether futures. However, experts agree that this alone doesn’t explain the growing demand. Charts tracking CME open interest show not only rising ETH contract volumes but also increasing dollar value, suggesting deeper interest in Ethereum exposure among institutions.
A significant structural factor fueling this momentum is a new proposal from Nasdaq to allow staking within ETHA. If approved, this would enable BlackRock’s Ethereum ETF to earn staking rewards directly from the network. With staking yields currently reaching above 5%, the move could make ETHA both a growth and income-producing investment—an attractive combination for institutions.
Bitcoin Still Leads in Total Inflows
Despite Ethereum’s breakout moment, Bitcoin remains the dominant force in the crypto ETF market by overall scale. Since the start of spot Bitcoin ETFs in January 2024, they have accumulated $53 billion in total net inflows and now control over $150 billion in assets under management.
Nate Geraci, president of ETF Store, reminded investors on X that Bitcoin’s popularity among institutions hasn’t waned. He pointed out that Bitcoin ETFs have posted inflows on 26 of the last 27 trading sessions, bringing in more than $10 billion in new capital.
Still, Ethereum’s daily win is an important signal. It shows that institutions are beginning to diversify their crypto exposure beyond just Bitcoin. Ethereum’s growing appeal stems from multiple factors—rising staking yields, potential SEC approval for staking-enabled ETFs, and political support for crypto-friendly legislation like the GENIUS and CLARITY bills that aim to classify major crypto assets as commodities.
Turning Point or One-Time Spike?
The big question now is whether Thursday’s surge marks the beginning of a long-term rotation into Ethereum or if it’s simply a short-term anomaly. Much will depend on whether ETH ETFs can continue to deliver strong performance and whether the proposed staking feature receives regulatory approval.
What’s clear for now is that Ethereum has achieved a new level of institutional validation. A headline that once seemed far off—“Ethereum ETFs beat Bitcoin ETFs”—is now a reality. This turning point could reshape how investors view Ethereum’s role in the digital asset ecosystem going forward.
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