Key Points
Surge in Ethereum ETFs
Spot Ethereum (ETH) ETFs have seen a significant increase in inflows over the past week. More than $500 million has entered the market in the last five trading sessions as of Feb. 6. CoinGlass reports that this recent wave of investments accounts for about 16% of all-time net inflows. The total now stands at $3.17 billion. This represents 18% of the $2.8 billion that flowed in between Jul. 23, when spot Ethereum ETFs were approved, and Jan. 23. The major portion of this inflow has been concentrated among three major players in the Ethereum ETF market.
Major Players
According to Blockworks, BlackRock’s iShares Ethereum Trust (ETHA) leads with $3.75 billion in assets under management. It is closely followed by Grayscale’s Ethereum Trust (ETHE) at $3.67 billion. Fidelity’s Ethereum Fund (FETH) completes the top three with $1.34 billion. The total AUM for Ethereum ETFs exceeds cumulative inflows due to asset appreciation and reinvestments.
Feb. 4 saw a significant spike in ETF inflows, with over $307 million added that day alone. It was the third-highest single-day inflow since the launch of spot Ethereum ETFs. The highest one-day inflow occurred on Dec. 5, with more than $428 million.
Price Rebound
The increase in ETF demand coincided with a rebound in Ethereum’s price. After declining to $2,150 on Feb. 3, Ethereum recovered to $2,920 by Feb. 4, reflecting a 36% increase. This price movement followed a temporary reversal of tariffs imposed by President Donald Trump on Canada, Mexico, and China. The original announcement of these tariffs had contributed to a broader market downturn, leading to one of Ethereum’s steepest declines in recent months.
Ethereum has since stabilized, trading at $2,720 as of Feb. 7. However, it remains about 27.5% below its 2025 peak of $3,750, recorded on Jan. 6, and approximately 45% below its all-time high of $4,890 from Nov. 2021. Investor sentiment remains mixed on the asset’s next move, but some analysts see parallels with past market cycles.
On Feb. 7, investor Ted Pillow noted that Ethereum had seen capitulation candles in Q1 2024, Q3 2024, and now Q1 2025. Each time, this was followed by a 90–100% rally over the next 8 to 12 weeks. He suggested that if historical patterns hold, Ethereum could be positioned for another upward move. While it remains uncertain whether this trend will repeat, the recent ETF inflows indicate that institutional investors are actively positioning in Ethereum, potentially in anticipation of further price movements.
