Ethereum Hits Six-Month High as ETFs See Record Inflows

Ethereum has reached a six-month high, breaking above $3,400 as record inflows into US-listed spot Ethereum ETFs and surging institutional demand fuel a strong rally. The token touched an intraday peak of $3,463 before trading at $3,436 early Thursday, marking an 8.4% gain in 24 hours.

Record ETF Inflows Propel Ethereum

Nine US spot Ethereum ETFs recorded their biggest combined daily net inflow ever on Wednesday, totaling $726.7 million, according to Farside Investors. BlackRock’s iShares Ethereum Trust led with $499 million, followed by Fidelity’s FETH with $113 million. This surpassed the previous record of $428 million from December 2024, pushing total July inflows to $2.27 billion — the strongest month since these ETFs launched. US spot Ether ETFs now collectively hold over 5 million ETH, more than 4% of the circulating supply.

Institutions Boost ETH Holdings

Corporate treasuries are accelerating their ETH exposure. Strategic ETH Reserve data shows treasuries hold $5.33 billion in ETH, or 1.33% of total supply, with $1.6 billion added in June alone. SharpLink Gaming purchased $68 million in ETH in the past 24 hours, bringing its eight-day total to $343 million. World Liberty Financial, tied to Donald Trump, bought $5 million in ETH, while BitMine Immersion Technologies revealed ETH holdings now exceed $500 million.

Altcoins Follow Ethereum’s Momentum

Ethereum’s rally has lifted the altcoin market, as XRP surged 7.6%, Dogecoin rose 6.9%, Solana climbed 5.2%, and BNB, Tron, and Cardano all gained — outpacing Bitcoin’s modest 0.7% rise. With ETFs, treasuries, and supply dynamics aligned, ETH could see more upside if favorable conditions persist.