Ethereum Spot ETFs Set Record With Nearly $720 Million Inflows

Ethereum spot ETFs experienced a record-breaking day on July 16th, attracting approximately $717 million in net inflows. This surpasses the previous single-day record of $428 million set in December 2024. BlackRock's ETHA vehicle significantly contributed to this surge, absorbing around $500 million alone. Over the last five trading sessions, these new ETH funds have seen an estimated $1.8 billion in investment. The demand from ETFs was substantial, acquiring roughly 221,000 ether, which is more than 100 times the newly issued ether by the network during that same period. As a result, the spot price of Ethereum approached $3,500 in late trading.