Last week was a strong one for Ethereum spot ETFs, to put it mildly. According to the data from SoSoValue, these funds pulled in a net of $638 million between September 8th and 12th. That’s not a small number. And it makes four weeks in a row now of positive movement, which feels like a shift in mood. Maybe investors are getting more comfortable with the idea again.
A Clear Leader Emerges
When you look closer, one fund really stood out. Fidelity’s FETH product brought in a whopping $381 million of that total all by itself. That’s the highest for the week, pushing its total inflows since launch to nearly $2.86 billion. It’s clearly become a major player. BlackRock’s offering, ETHA, wasn’t far behind, adding another $165 million. Between them, these two giants accounted for the bulk of the new money. What’s perhaps more telling is that none of the other funds, like Grayscale’s or Bitwise’s, saw money leaving. Everyone was in the green.
The Big Picture Numbers
The overall stats are pretty convincing. By the end of that period, cumulative net inflows for these ETFs had reached $13.36 billion. Total net assets are now sitting above $30 billion. That’s a serious amount of money. BlackRock’s fund holds the largest chunk of that, managing over $17 billion alone. Fidelity follows with a still-massive $3.7 billion. It shows these aren’t niche products anymore. They’re becoming a standard part of the landscape for investors who want crypto exposure without the hassle of managing keys and wallets directly.
What’s Driving the Demand?
This isn’t just random luck. The steady inflows point to growing institutional interest. Big names like Fidelity and BlackRock don’t just jump into things for no reason. Their involvement signals a certain level of confidence in Ethereum’s longer-term role. For a lot of these investors, it’s not just about the price of Ether. It’s about the network itself—its use in decentralized finance, staking, and so on. The ETF structure gives them a familiar, regulated path to get involved. And it seems like that’s exactly what they want right now.
This kind of demand might actually help with price stability, too. By locking up Ether in these institutional products, it effectively takes supply off the open market. That could ease some selling pressure. Of course, nothing is guaranteed in crypto. But for now, the momentum seems to be building. If the broader sentiment stays positive, this could very well continue. The fact that not a single fund saw outflows last week is a pretty strong sign of solid, broad-based support.
