Spot Ethereum ETF inflows reach a new high, surpassing 4 billion USD in 11 months

The U.S. Spot Ethereum ETF has achieved significant growth in just 11 months, with total net inflows exceeding $4 billion. These ETF products were launched on July 23 of last year, and after 231 trading days, as of the market close on June 23, their total net subscription amount has reached $4.01 billion.

It is worth noting that within 15 trading days after breaking the $3 billion mark, these ETF products attracted an additional $1 billion in capital inflow. These 15 days accounted for only 6.5% of the total trading history, yet contributed 25% of the total invested capital to date, demonstrating strong investor interest in Ethereum ETFs.

Among the numerous ETF products, a certain company's Ethereum trust stands out, leading the market with a total inflow of $5.31 billion. Additionally, two other companies' ETF products also contributed $1.65 billion and $346 million in fund inflows, respectively. However, a traditional trust company recorded an outflow of $4.28 billion during the same period, reflecting a shift in investor preferences.

Daily capital flow data further confirms this trend. For example, on June 11, a certain ETF product absorbed more than $160 million in a single day. During the period from May 30 to June 23, this product had five trading days where capital inflows exceeded $100 million. At the same time, the redemption speed of traditional trust companies has slowed down, leading to a significant increase in overall capital inflows.

Most newly launched ETF products charge a management fee of 0.25%, which is in line with the industry median and significantly lower than the 2.5% rate of some traditional products. According to a research agency report, lower costs combined with established primary market relationships continue to direct funds towards emerging ETF products.

The report also pointed out three main factors for the surge in capital inflows in June: first, the rebound in the ETH price relative to BTC; second, the clearer guidance provided by the IRS regarding the staking income in grantor trust ETFs; and finally, the large-scale rebalancing orders from multi-asset allocators also drove capital inflows, as they view Ethereum as an extension of their portfolio rather than merely a speculative bet.

The upcoming mid-July deadline for the submission of the quarterly 13F filings will reveal whether professional investment managers have participated in this wave of capital inflow. As of March 31, professional investment institutions held less than 33% of the Spot Ether ETF assets, indicating that there is still significant room for improvement in institutional investor participation.