Ethereum ETFs Catch A Record-Breaking Wave

Key Points

1. Spot Ethereum ETFs recorded 20 consecutive days of net inflows, totaling $17 million on July 31, with BlackRock's ETHA contributing $18.2 million.

2. Grayscale's ETHE saw a $6.8 million outflow on the same day, while Fidelity's FETH added $5.62 million.

3. The total asset value under management for Ethereum ETFs reached $21.52 billion, accounting for 4.77% of Ethereum's market capitalization.

4. Investors shifting from Bitcoin to Ethereum contributed to the inflows, with Presto Research noting a pivot toward Ethereum after Bitcoin's mid-June surge.

5. Grayscale, Franklin Templeton, and Canary Capital submitted updated spot Solana ETF filings, potentially paving the way for other altcoin-based ETFs.