Fidelity Invests $60M in Ethereum as ETF Inflows Hit $100M
Highlights
- Fidelity's FETH led $100 million spot Ethereum ETF inflows on Monday.
- Cumulative inflows across all U.S. Ethereum ETFs have exceeded $4 billion since their launch.
- Institutional inflows, including $124 million in the past week, mark nine consecutive weeks of gains.
Spot Ethereum ETF inflows surged once again to $100 million on Monday, with asset manager Fidelity leading the entire pack, while overtaking giants like BlackRock’s ETHA. Additionally, the net inflows across all the US ETF issuers crossed over $4 billion, amid positive developments in the Iran-Israel conflict. The ETH price has also surged 7.5%, shooting past $2,400 levels.
Fidelity Leads Ethereum ETF Inflows
Asset manager Fidelity led the inflows into spot Ether ETFs on Monday, contributing a total of $60.5 million while scooping 27,175 ETH from the open market. With this, the net inflows for Fidelity Ethereum ETF (FETH) have surged to $1.65 billion.
On Monday, the asset manager also managed to beat BlackRock’s iShares Ether Trust (ETHA), which recorded inflows at $25.8 million, as per data from Farside Investors.
Spot Ether (ETH) ETFs have recorded inflows for 25 of the past 30 trading days, accumulating nearly $1.5 billion in new investments during this period, according to financial analyst Nate Geraci.
The cumulative inflows for spot ETH ETFs have now surpassed $4 billion since their launch, demonstrating strong investor interest in the asset class. Notably, this growth comes despite significant outflows of $4.3 billion linked to the ETHE unlock event.
ETH Institutional Inflows Continue
Ethereum price has been subject to crypto market volatility amid the ongoing Iran-Israel conflict. Following the rejection at $2,700 earlier in June, ETH slipped all the way to $2,300 before recovering by 8% in the last 24 hours.
However, despite this, institutional inflows into ETH have continued. The latest CoinShares data shows that Ethereum investment products saw $124 million in net inflows, clocking nine consecutive weeks of gains. Players like Fidelity and BlackRock have also contributed to it.
ETH has now amassed $2.2 billion in total inflows during its current streak, marking the strongest run since mid-2021. The consistent demand for ETH underscores increasing investor confidence in the asset, driven in part by easing regulatory concerns in select regions.
Additionally, Ethereum network activity has been on the rise in recent weeks, as per on-chain data. Weekly new ETH addresses now range between 800,000 and 1 million, a significant increase compared to last summer’s weekly additions of 560,000 to 670,000 wallets.
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