Ethereum ETFs smash Bitcoin with $1 billion in a day

Source Cryptopolitan

Ethereum (ETH) just pulled off a Wall Street milestone. On August 11, US spot Ethereum ETFs notched a record $1.019 billion in daily net inflows. The massive influx of ETH ETFs outperformed Bitcoin-linked ETFs with a huge margin, suggesting that investors are now going after the biggest altcoin.

The global digital asset market printed mixed indexes as Bitcoin price dropped below $120k. However, Ethereum’s upward run remained intact. ETH price is now up by 19% over the last 7 days, while Bitcoin managed to surge by just 4%. There has been chatter among investors that Ether might hit its new all-time high (ATH) this season.

Ethereum ETFs roar past $10.8B

As per the SoSoValue data, BlackRock’s ETHA led the inflow rally for Ether ETFs. It posted an influx of almost $640 million. Fidelity’s FETH logged $277 million, the largest single-day haul in its history, while Grayscale’s Mini Ether Trust and ETHE added $66.57 million and $13 million, respectively. Cumulative inflows into spot ETH ETFs have now topped $10.8 billion since launch.

ETH ETFs knocked 5 consecutive days of money flowing into funds. Last week saw these funds posting $1.02 billion of inflow and $326 million in the week prior to that. On a monthly basis, July saw an inflow of $5.43 billion, the largest to date, while June recorded an inflow of $1.16 billion. Till now, August has reported $1.19 billion of inflow, and it is expected to close in on the July record.

Ethereum ETF inflows hit $1B, 5x bigger than Bitcoin’s.
Source: SoSoValue data.

Bitcoin ETFs also saw green, with $178 million in net inflows. BlackRock’s IBIT led with $138.2 million and Grayscale’s BTC followed with $14.24 million. Bitcoin price rally seems to be cooling down now as it has remained marginally up over the last 30 days.

Though Ethereum is clearly hogging the limelight. It has rallied nearly 45% in the past 30 days. ETH’s inflow streak and $4.2K breakout have ignited a bullish narrative with institutional money clearly driving the tape. 

Social chatter is buzzing with lofty price targets and speculation about new waves of institutional adoption, while Bitcoin sentiment remains firm in the post-Fed environment. On-chain, Ethereum continues to dominate tokenized assets, commanding 58% of the market. Along with this, the value of staked ETH has smashed through the $150 billion mark for the first time.

Ethereum is trading at an average price of $4,295 at press time. Its 24-hour trading volume spiked 26% to hit $43 billion.

Vitalik unveils bold 10-year vision

Adding fuel to the hype, Vitalik Buterin shared his 10-year vision for Ethereum. He stated ultra-light nodes, default privacy, seamless self-custody, and a fully verified tech stack “all the way down” from dApps to hardware. His vision is a future where trustless security is the societal default, making “trust me” systems feel as outdated as unfiltered tap water. 

Arkham Intelligence pegs Buterin’s on-chain holdings at 240,042 ETH (worth $1.03 billion) plus other assets, bringing his tracked crypto wealth to $1.045 billion. That excludes any off-chain stash, which means the real number could be much higher.

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Disclaimer: For information purposes only. Past performance is not indicative of future results.
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