Ethereum ETFs Attract Over $2.6 Billion in Eight Days

Net capital inflow into spot exchange-traded funds (ETFs) based on the second-largest cryptocurrency reached $2.6 billion over the past eight days.

On August 14, net inflow into spot Ethereum ETFs in the United States amounted to $639.6 million.

The leading fund was BlackRock’s ETHA, with an inflow of $519.7 million. Grayscale Ethereum Mini Trust attracted $60.7 million, while Fidelity’s FETH saw $56.9 million. Invesco’s ETF recorded a modest inflow of $2.26 million.

On August 11, inflow into ETFs based on the second-largest cryptocurrency set a record at $1.02 billion.

At the time of writing, Ethereum’s price had adjusted by 1.8% over the past 24 hours to $4652, according to CoinGecko. Over the past week, the asset rose by 18.7% and was trading near its all-time high.

ETH Reserves

From July 1 to August 12, BTCS secured over $192 million in additional funding. The funds were obtained through DeFi loans on the Aave platform, backed by Ethereum, the issuance of convertible notes, and stock sales. This increased reserves to 70,140 ETH, valued at over $321 million.

Chief Financial Officer Michael Prevoznik noted that growth in treasury holdings of the second-largest cryptocurrency remains a fundamental part of BTCS’s strategy. According to him, this ensures both direct income and long-term participation in the growth of the Ethereum ecosystem.

At the time of writing, public companies held 3.57 million ETH, valued at $16.5 billion. The largest holder is BitMine Immersion Technologies.

Previously, inflow into ETFs based on the second-largest cryptocurrency surpassed the issuance of new coins following The Merge.