Ethereum demonstrated robust network engagement and institutional interest last month as daily active addresses surged to 841,100 in July – the highest level recorded this year. This notable increase occurred despite Ether’s price declining approximately 8.6% from $3,875 to $3,540 over the same period.
Spot Ethereum exchange-traded funds (ETFs) simultaneously showcased substantial capital inflows, collectively absorbing 8,183 ETH worth $29.83 million in a single trading session. BlackRock’s iShares Ethereum Trust (ETHA) led this movement by acquiring 4,841 ETH ($17.65 million). This acquisition raises ETHA’s total holdings beyond the 3 million ETH threshold, valued at $11.04 billion.
Other significant ETF contributions included Grayscale Ethereum Trust adding 1,989 ETH and Fidelity Ethereum Fund securing 1,498 ETH. The parallel expansion in both network participation and institutional ETF allocations signals strong underlying demand for Ethereum, emphasizing continued confidence in its ecosystem despite recent market volatility.
This activity underscores Ethereum’s dual strength: sustained organic user growth reflected through on-chain metrics and accelerating institutional adoption via regulated investment vehicles.