Investors are shifting aggressively into spot Ethereum exchange-traded funds, which recorded about $455 million in net inflows on Aug. 27 and a further $307 million on Aug. 28. The two-day surge lifted August inflows to roughly $4 billion and pushed cumulative additions since early July close to $10 billion, according to fund-flow trackers. Total assets held by U.S. spot ETH ETFs have now surpassed $30 billion. Ethereum’s growing appeal is evident across Wall Street. Regulatory filings show Goldman Sachs holding $721 million in ETH ETF shares, the largest single position, followed by Jane Street with $190 million and Millennium Management with $186 million. Bloomberg Intelligence data indicate that investment-advisor firms control $1.35 billion of ETH ETF exposure—about 540,000 ETH—after adding nearly 390,000 ETH during the second quarter. Beyond the ETF market, corporations are building sizeable treasuries of the digital asset. Public companies and ETF issuers now collectively own more than $51 billion in Ether—over 9% of the cryptocurrency’s circulating supply—highlighting a trend that mirrors, and in some cases eclipses, the corporate adoption cycle previously seen with Bitcoin. The influx contrasts sharply with demand for Bitcoin funds. Ethereum ETFs have absorbed about $1.83 billion in the past five days—roughly ten times the $171 million that entered Bitcoin ETFs over the same period. Holdings in Bitcoin ETFs are down roughly $814 million from their peak, marking the steepest pullback since April. Ethereum products have out-paced Bitcoin inflows for six consecutive weeks, reinforcing the narrative that Ether is becoming, in the words of VanEck’s Jan Van Eck, “the Wall Street token.”