Amidst the humdrum of a Monday, American Spot Ether exchange-traded funds (ETFs) demonstrated a voracious appetite, consuming sevenfold the ETH minted by the network. A modest feast, one might say, totaling a mere $65.2 million, or 17,549 ETH, which, while marking the lowest intake in three weeks, still managed to outstrip the daily network production of 2,571 ETH, or approximately $9.7 million.
“Even on slow days, the ETH ETFs are gobbling up all of the supply,” remarked Anthony Sassano, a veritable sage of the crypto realm, with a hint of awe and perhaps a touch of envy.
Net new ETH issuance today: ~2,571 ETH ($9.7 million).
Net inflows into the ETH ETFs today: ~17,549 ETH ($65.77 million).
The ETH ETFs bought 7x more ETH than was net issued by the network today.
Even on slow days, the ETH ETFs are gobbling up all of the supply.
Accelerate!
— sassal.eth/acc (@sassal0x) July 29, 2025
BlackRock’s iShares Ethereum Trust (ETHA) continued its ravenous consumption, adding another $132 million to its coffers, a sum that would have been even more impressive had it not been partially offset by a $49.2 million exodus from Fidelity’s FETH fund, as noted by Farside Investors. ETF analyst Eric Balchunas marveled at ETHA’s newfound popularity, noting it was the 17th most traded ETF of the day, a position he hadn’t seen it occupy before.
Since July 2, a period of nearly a month, spot Ethereum ETFs have not experienced a single outflow day. Instead, they have welcomed a staggering $3.8 billion in inflows over the past ten trading days. The inflow streak now stands at 17 days, with nearly $5.2 billion in fresh capital, a trend that industry expert Nate Geraci finds particularly noteworthy, especially when compared to the 19-day streak from May to June, which saw only $1.4 billion in inflows.
While Ethereum issuance remains inflationary, albeit at a modest 0.12% per year, this pales in comparison to Bitcoin’s 1.34% annual issuance rate. Yet, both assets are being hoarded at breakneck speeds by ETPs and corporations, a phenomenon that has not gone unnoticed by the crypto community.
In the last week, the ETH supply has swelled by about 17,910 ETH, according to Ultrasound.money. However, spot ETFs managed to devour almost the entirety of that increase in a single, supposedly sluggish, Monday.
Despite a slight dip over the past 24 hours, ETH remained perched near a multi-month high of $3,800 at the time of writing. Position trader Bob Loukas, ever the optimist, predicted a surge to $4,700 in the short term, contingent upon a favorable movement in Bitcoin over the next four weeks.
Furthermore, August has historically been a bullish month for Ethereum, especially in post-Bitcoin halving bull market years, with notable gains recorded in 2017 and 2021. Should ETH follow the same trajectory as August 2021, it could very well breach the $5,000 mark next month, a prospect that has many in the crypto community rubbing their hands in anticipation.
August is usually a bullish month for Ethereum during post-halving years!
Send $ETH to $10,000.
— CryptoGoos (@crypto_goos) July 28, 2025
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2025-07-29 11:03