Aug 17, 06:00 AM

Ethereum ETFs Log Record $2.9 Billion Weekly Inflows as Unstaking Queue Swells

U.S. spot Ethereum exchange-traded funds attracted roughly $2.85 billion in the week ended 16 August, the largest weekly haul in their short history and the third-biggest week ever for any digital-asset ETF. Capital inflows were almost five times larger than those seen by Bitcoin products over the same period, marking a notable rotation toward the second-largest cryptocurrency. BlackRock’s iShares Ethereum ETF (ETHA) drew about $340 million on 16 August, extending a nine-day streak of net subscriptions. The fund has recorded inflows on 71 of the past 75 trading sessions and has absorbed about $8 billion since its launch one year ago. Daily data compiled by market trackers show that aggregate Ethereum ETF inflows last week exceeded the total they gathered from January through June. The demand comes as roughly 900,000 ether, valued at about $3.8 billion, sits in a withdrawal queue on the network’s proof-of-stake system, up from zero a month earlier. The backlog, which carries an estimated 15-day delay and is dominated by staking providers Lido, ether.fi and Coinbase, could release a significant volume of coins onto the market once exits are processed, in contrast to Bitcoin miners who can sell newly minted tokens immediately.