Another $1.1 Billion: Is This Bitcoin, Ethereum ETF Buying Spree Sustainable?

Benzinga
18 Jul

Spot Ethereum ETFs recorded a net inflow of $602 million on July 17, marking the second-highest single-day inflow in history.

The inflow surpassed that of Bitcoin spot ETFs, which saw $523 million in net inflows on the same day, their 11th consecutive day of positive flow, according to data from SoSoValue.

Combined, U.S. Bitcoin BTC/USD and Ethereum ETH/USD spot ETFs have amassed $54.3 billion and $7.09 billion in cumulative net inflows, respectively.

What Happened: The surge in investor appetite comes amid renewed market optimism, robust macroeconomic indicators, and mounting regulatory clarity, themes echoed across institutional research from Glassnode and Coinbase COIN.

The dramatic capital rotation into ETH products aligns with a broader shift noted by analysts. "BTC is participating, but this rally belongs to ETH," said Dr. Sean Dawson, Head of Research at Derive.xyz. "The technical setup, option flows, and liquidations all point to a meaningful structural shift in positioning."

Ethereum ETFs also led in total value traded on July 17, reaching $2.29 billion, compared to Bitcoin's $3.7 billion, as tracked across major issuers like BlackRock, Grayscale, Fidelity, and Ark Invest.

Notably, BlackRock’s Ethereum ETF ETHA recorded the largest daily net inflow of $546.7 million and holds over $8.4 billion in net assets.

Also Read: $1.5 Billion In One Day: Why Bitcoin And Ethereum ETFs Are Running Wild

From a macro and on-chain lens, the report by Coinbase and Glassnode highlights that Ethereum's liquid supply rose 8% in Q2, while illiquid supply — coins held for over a year — declined by 6%.

Concurrently, ETH's MVRV (Market Value to Realized Value) ratio swung from negative in Q1 to positive in Q2, confirming improving profitability among holders.

The share of ETH in profit rose from under 40% to nearly 90% during the quarter.

"With macro tailwinds, falling rates, and ETF momentum aligning, the back half of 2025 is setting up to be Ethereum's strongest in years," Dr. Dawson added.

Bitcoin, meanwhile, maintained strong institutional demand.

As noted in the Glassnode report, U.S. spot Bitcoin ETFs purchased over 225% of all newly mined BTC since January 2024, reflecting relentless buying pressure against a structurally constrained supply.

What’s Next: While Bitcoin’s ETF net assets remain dominant at $154.6 billion, Ethereum's growing share is being closely watched.

Ethereum spot ETFs now represent 4.19% of total ETH market cap, compared to 6.51% for Bitcoin.

Loading...
Loading...

Read Next:

  • Trump Wishes Bitcoin, Ethereum, XRP ‘Happy Crypto Week!’ — ‘It Is All Part Of Make America Great Again’

Image: Shutterstock

$BTCBitcoin - United States dollar
$118979.84-0.25%

Stock Score Locked: Want to See it?

Benzinga Rankings give you vital metrics on any stock – anytime.

Reveal Full Score
Edge Rankings
Momentum
93.91
Price Trend
Short
Medium
Long
Overview
$ETHEthereum - United States dollar
$3607.803.67%
COINCoinbase Global Inc
$419.582.15%
ETHAiShares Ethereum Trust - iShares Ethereum Trust ETF
$27.285.41%
Market News and Data brought to you by Benzinga APIs

© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10