U.S.-listed spot Ethereum ETFs pulled in $240.3M in inflows on Wednesday

Data indicates that BlackRock's ETHA led the pack, attracting $163.6 million in fresh funds.

U.S.-listed spot Ethereum exchange-traded funds pulled in $240.3 million in outsized inflows on Wednesday, their best daily performance since early February, data compiled by SoSoValue shows.

The stellar performance was largely driven by BlackRock’s (NYSE:BLK) ETHA, which attracted $163.6 million in fresh funds. The massive inflow comes as Ethereum rose above the $2,800 threshold.

The last time the inflows into the nine ETH ETFs surpassed that mark was on February 2, with investors adding $276 million into BlackRock’s ETHA as ETH’s price approached $2,900.

At the same time, Fidelity’s (NYSE:FBTC) FBTC saw an inflow of $37.28 million, while Grayscale’s Mini Ethereum Trust and Bitwise’s (NYSE:BITW) ETH also posted minor inflows.

Wednesday was the 18th consecutive session with positive flows for the spot ETH ETFs, highlighting the strong bullish sentiment.

The Ether ETFs outpaced the flows into their spot Bitcoin counterparts, which saw $164.5 million in inflows.

Since their launch last July, the Ethereum products have recorded approximately $3.74 billion in net inflows. This compares to about $16.76 billion for the 10 U.S.-listed spot BTC ETFs, which began trading in March 2021.

According to CoinMarketCap data, Ethereum traded at around $2,742 by 08:34 ET (12:34 GMT), indicating a 2.3% decrease over the previous 24 hours.

While Bitcoin recently attained a new all-time high above $111,000, the second-largest crypto by market capitalization remains more than 43% below its 2021 peak of roughly $4,878.

Despite lagging behind in investors’ interest and significantly lagging behind BTC this year, the ETH ETFs are experiencing a resurgence as President Donald Trump’s family has, in recent months, reignited interest in altcoins and decentralized finance (DeFi) applications.

However, the healthy figures for the ETH ETFs showcase the market’s increasing optimism. These strong outsized money flows could propel Ether towards breaking its three-year-old price record in the months ahead.