U.S. spot Ethereum ETFs took in $225.8 million on Thursday, their strongest single day in ten months, extending a nine-session buying streak worth $1.42 billion. BlackRock's ETHA fund drove most of the run, and the gap with Bitcoin ETF inflows has narrowed to just $16.5 million.
U.S. spot Ethereum ETF funds pulled in $225.8 million on Thursday, their biggest single-day haul since October 28, 2025. The take capped a ninth straight session of net inflows, a run that started August 17 and has now brought in $1.42 billion.
BlackRock drives the streak
BlackRock's ETHA fund accounted for $1.02 billion of the nine-day total, or 72% of the category, and it has not logged a single day without net buying. Blockchain analytics firm Arkham flagged the streak Thursday, counting $889.8 million across the first eight days — a figure that matches Farside's tally exactly.
Fidelity's FETH ranked second, posting its best day of the run on Thursday at $56.2 million. BlackRock's staked Ethereum product ETHB added $20.7 million the same day.
Gap with Bitcoin narrows
U.S. spot Bitcoin ETFs took $242.3 million on Thursday, just $16.5 million more than the Ethereum funds. On August 17, the first day of both runs, the Ethereum funds took a tenth of what Bitcoin's did. Ethereum traded around $2,477 on Friday, down 0.5% over the past 24 hours but up around 5% on the week, according to CoinGecko data.
Money is coming from outside crypto
The buying is coming from outside crypto. Max Shannon, senior research associate at Bitwise Europe, put this week's take at $713.6 million, matching Farside's count. According to Shannon: "likely been driven by the marked rise in Cross Asset Risk Appetite".
Ethereum has still lagged Bitcoin and the larger altcoins over the same stretch, which Shannon said was warranted given its strength since the broader rally started on August 19. Capital has instead rotated into higher-beta names such as ZEC, XRP, SOL and HYPE, which have outperformed.
The coin is currently hovering around its 200-week moving average for the first time since it broke support in late January, a level Shannon called important to hold. Investors picked up roughly 1.1 million ETH around that level, a block that could act as resistance if those holders sell into strength. Flows remain reflexive and momentum-based, though, so a pick-up in spot volume is needed to sustain the market's footing — volume has softened to its 16th percentile year-on-year since the rally began on August 19.
Source: Decrypt
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