Overview

• On August 11 U.S.-listed spot Ethereum ETFs recorded net inflows exceeding $1 billion, led by $640 million into BlackRock’s ETHA and $277 million into Fidelity’s FETH.
• Those inflows lifted total spot-ETF capital toward approximately $10.8 billion since the products’ mid-2024 debut.
• Ethereum’s price climbed past $4,500 for the first time since 2021, peaking near $4,600 as ETF momentum and macro rate-cut expectations boosted buying.
• Corporate treasury strategies have driven large acquisitions, with BitMine Immersion Technologies holding about 1.15 million ETH (valued at roughly $5 billion) and planning a multibillion-dollar fundraising.
• On-chain metrics show ETH on exchanges at multi-year lows and staking surpassing $150 billion, tightening liquid supply even as analysts warn of heightened leverage and volatility risks.