Key Notes

• On July 1, ETHA recorded $54.8 million in inflows, contributing to a total of $5.5 billion since inception, and maintaining inflows for 29 of the last 30 days.
• Bit Digital (BTBT) announced a $162.9 million equity raise to expand its ETH holdings.
• Largest ETH corporate holder SharpLink Gaming purchased another 4,951 ETH, bringing its total holdings closer to 200K ETH.

Despite the jittery market conditions, inflows into spot Ethereum ETFs have remained strong, with BlackRock iShares Ethereum Trust ETF (ETHA) dominating most of the flows. On July 1, the ETHA inflows stood at $54.8 million, while the net inflows across all US ETF issuers hit $40.7 million.

Blackrock dominates ethereum etf inflows

BlackRock Ethereum ETF (ETHA) has dominated most of the inflows since its inception, with the net inflows crossing $5.5 billion. ETHA has seen inflows for nearly 29 of the past 30 days, making it one of the best-performing Ethereum funds currently in the market.

Despite the strong Ethereum ETF inflows, ETH whales have continued with their selloff, which has put selling pressure on the ETH price for a long time. As a result, ETH has failed to surpass the $2,500 resistance and has been flirting underneath it for quite some time.

If the strong inflows into spot Ethereum ETFs continue, it could pave the way to introduce staking features for the existing Ethereum ETFs in the market.

Institutional demand for eth remains high

Ethereum

ETH
$2 456

24h volatility:
0.0%

Market cap:
$296.37 B

Vol. 24h:
$14.38 B

continues to see greater institutional demand with corporates rushing to build their own ETH reserves. On July 1, Bit Digital announced its plans to raise a massive $162.9 million by issuing a total of 86.25 million shares, and will be using the proceeds to buy more Ethereum.

Nasdaq-listed Bit Digital (BTBT) has been working on its Ethereum strategy since 2022. The company now operates one of the largest Ethereum staking platforms among publicly listed firms, offering validator infrastructure, secure custody services, and yield optimization tools for ETH staking. This funding round marks one of the largest dedicated Ethereum capital raises ever undertaken by a public company.

ETH has been gaining broad appeal due to its annual staking yields of 3–5%, deflationary tokenomics, and its critical role in powering decentralized applications. In June, Bit Digital also raised a total of $150 million, while completely pivoting to staking Ethereum.

On the other hand, ShaprLink Gaming, the largest corporate holder of Ethereum, has purchased an additional 4951 ETH worth $12 million earlier this week, with its total holdings approaching 200K ETH.

Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

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Bhushan Akolkar

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

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