The long-awaited record has arrived: for 20 consecutive days, Ethereum has had inflows, and thus capital inflows, into its ETF. It is an enormously important result, sealed on a complicated day for the markets – mainly due to macro issues of some relevance. 20 consecutive days of inflow that confirm an almost obsessive attention to the second cryptocurrency by market capitalization.
A result mainly achieved by BlackRock and Fidelity, whose ETFs, the most digestible for large investors, have continued to rake in significant amounts over the past month, particularly in the former case.
Ethereum ETFs: now it's a record
20 consecutive days of inflows, which for the particular functioning of ETFs means higher demand than the supply of the fund's shares. It is an enormously important result that confirms, among other things, that the appetite for Ethereum has finally blossomed, even if it is a full year after the launch of these products.
All this while there is still anticipation for the green light on staking from the SEC, a feature that will make these ETFs profitable, and thus even more attractive to investors.
The current situation
The current situation actually plays against the holding of ETFs compared to liquid staking tokens like stETH, or even Ethereum staked directly.
The yield of almost 3% coming from staking still makes the ETFs very unattractive. And it is this disadvantage that makes the result obtained by the ETFs in the USA even more interesting.
Signal of altseason?
Our director Alessio Ippolito talked about it here, pointing out all the unmistakable signals regarding the potential arrival of altseason. Much more convincing signals will also be needed from other corners of the market – and also on other cryptocurrencies that are not Ethereum.
However, this boldness of the second class is certainly an indicator of Wall Street's greater appetite for cryptocurrencies that are not Bitcoin and that, overall, have a more complicated value proposition to explain to those who have never been close to this world.
Few are willing to bet that the trend will be lasting. Who knows, however, if the unlocking of other ETFs might be a precursor to a potential recovery of the alt market compared to the overwhelming dominance of Bitcoin, which has been absolutely uncontested from 2024 to today.