Ethereum spot ETFs surpassed Bitcoin ETFs for the first time in history

Ethereum exchange-traded funds (ETF) have recorded historic daily inflows of $602.02 million. The top altcoin has overtaken Bitcoin ETFs daily inflows for the first time ever. 

Data from SosoValue showed that ETH ETFs received inflows of $602.02 million on July 17, which is a 15% increase compared to BTC ETF inflows of $522.60 million on the same day. The smart contracts platform received $79 million more than Bitcoin.

Combined, Bitcoin ETFs and Ether ETFs received a total of $1.1 billion, standing out as the winner for the day. 

BlackRock dominates Ether ETFs inflows

BlackRock’s Ether ETF, ETHA, received a massive $546.70 million in inflows—accounting for over 90% of the daily total Ethereum ETF inflows. Grayscale followed in second place with $29.90 million in inflows into its Ether Mini Trust, ETHE. Fidelity’s FETH came third, recording $17.19 million in Ether ETF inflows.

Bitwise’s ETHW and 21Shares’ CETH recorded inflows of $4.44 million and $3.78 million, respectively. Ethereum ETFs from VanEck, Franklin Templeton, and Invesco saw no inflows on July 17.

SosoValu data showed that spot Ether ETFs recorded a total trading value of $2.29 billion boosting the total net asset value to $17.32 billion. 

Bitcoin ETFs saw major inflows from BlackRock. The company’s IBIT had the biggest inflows of $497.30 million—accounting for over 95% of the daily total Bitcoin ETF inflows. Fidelity’s FBTC had inflows of $7.83 million, while Invesco’s BTCO followed next with $7.12 million. 

Grayscale’s Bitcoin Mini Trust saw inflows of $5.27 million, and Vaneck’s HODL received $5.08 million. The remaining BTC ETFs from Grayscale, Ark and 21Shares, Bitwise, Valkyrie, Franklin Templeton, WisdomTree, and Hashdex saw zero inflows and outflows. 

The total recorded trading value of spot BTC ETFs is standing at $3.76 billion, pushing the funds’ net asset value to $154.61 billion. 

On July 16, spot Ethereum ETFs recorded an all-time high daily inflow of $726.74 million. Spot Bitcoin ETFs, on the other hand, recorded net inflows of $799.40 million. The surge in Ether ETF inflows coincided with Ethereum’s sharp rise above $3,600.

Ether-based stocks are in the green

The boost in Ethereum’s price to over $3,600 and the approval of the stablecoin bill by the US House of Representatives have pushed crypto-linked stocks into the green.

NASDAQ-listed Coinbase saw its stock reach a new all-time high of around $444. The American crypto exchange saw its stock, COIN, smash its previous records since its IPO in 2021. Currently, COIN trades at around $417, based on Google Finance data.

Circle, the issuer of the stablecoin USDC, saw its stock briefly trade above the $260 mark before declining to around $223.

Earlier in the day, Ethereum‑linked stocks from BitMine, Bit Digital, and BTCS surged by as much as 12.7%, 6.5%, and 22.9%, respectively. Currently, BitMine Immersion Technologies (BMNR) is trading around $42.44, Bit Digital (BTBT) sits at $3.93, and BTCS Inc. (BTCS) is trading at $6.84.

KEY Difference Wire helps crypto brands break through and dominate headlines fast