U.S. spot Ethereum ETFs recorded their strongest day in 10 months on Thursday, taking in $225.8 million and extending a buying run that has now lasted nine consecutive trading sessions.
The inflow streak began on August 17, with the last day of net outflows occurring on August 11. Over the nine trading days, the funds have accumulated $1.42 billion in net inflows, with Thursday's total marking the largest single day since October 28, 2025.
BlackRock Leads the Rally
BlackRock's ETHA fund has driven the majority of inflows, accounting for $1.02 billion of the $1.42 billion total, or approximately 72 percent of the category's inflows. The ETHA fund recorded net buying on every one of the nine trading days.
Fidelity's FETH emerged as the second-largest contributor, posting its best day of the streak on Thursday with $56.2 million in inflows. BlackRock's staked Ethereum product, ETHB, added $20.7 million on the same day.
Ethereum ETFs Nearly Match Bitcoin Inflows
The gap between Ethereum and Bitcoin ETF inflows has narrowed significantly. U.S. spot Bitcoin ETFs took in $242.3 million on Thursday, just $16.5 million more than their Ethereum counterparts. On August 17, the first day of both runs, Ethereum funds took in approximately one-tenth of what Bitcoin's did.
Ethereum traded around $2,477 on Friday, down 0.5 percent over the previous 24 hours but up approximately 5 percent on the week, according to CoinGecko data.
Buying Driven by Traditional Market Risk Appetite
According to analysis from Bitwise Europe, the inflows appear to be coming from outside the crypto sector, likely driven by increased risk appetite in traditional financial markets. The buying reflects a broader shift in capital allocation across cryptocurrency assets.
Despite the strong inflow numbers, Ethereum has lagged behind Bitcoin and larger altcoins over the same period. Capital has rotated into other assets, with spot trading volume softening since the broader rally began on August 19.
