- Spot Ethereum ETFs recorded $105 million in net inflows for the week of July 13–17, reversing an eight-week outflow streak.
- BlackRock’s ETHA led the charge with $135 million in inflows, while the firm also launched a new staking ETF (ETHB) holding 80% staked Ether.
- Ethereum outperformed Bitcoin in April, with the ETH/BTC ratio hitting a 2026 high and network activity rising 41% week-over-week.
- Analysts highlight key resistance near $1,938 and support at $1,800, urging caution despite the positive flow shift.
The landscape for Ethereum exchange-traded funds has shifted dramatically in recent weeks, with institutional money flowing back into the asset class after a prolonged period of redemptions. Spot Ethereum ETFs pulled in roughly $105 million during the week of July 13–17, marking the strongest weekly tally since April and the second consecutive week of net creations. This turnaround comes after eight straight weeks of outflows that had dampened sentiment around the second-largest cryptocurrency.
At the same time, BlackRock has expanded its Ethereum product lineup with the launch of a staking-focused ETF, adding a yield-generating component that differentiates it from the firm’s existing ETHA fund. The new ETHB fund holds a mix of 80% staked Ethereum and 20% unstaked Ether, with staking rewards sourced from validators operated by Figment, Galaxy Digital, and Bitwise-owned Attestant. The fund launched with $106.7 million in net assets and charges a 0.25% sponsor fee, reduced to 0.12% on the first $2.5 billion in assets under management for the first year.
Ethereum ETF Inflows Surge in July After Eight-Week Slump
The July inflow data, reported by multiple flow trackers, shows that BlackRock’s iShares Ethereum Trust (ETHA) was the primary driver, accounting for the vast majority of positive daily flows. ETHA attracted $135.31 million during the week, while the only notable outflow came from Fidelity’s FETH, which lost $21.56 million. Other products like ETHV, EZET, QETH, and TETH saw no capital movement. The previous week, July 6–10, Ethereum ETFs had already taken in $84.42 million, ending the prolonged outflow period. The back-to-back positive weeks suggest a clear change in posture from allocators who had been steadily pulling cash out of ETH exposure through late spring and early summer.
Price action during the inflow streak saw Ethereum trading in the mid-$1,800s, with spot prices around $1,845–$1,850. Market commentary has focused on the need to hold the $1,800 area as a key demand zone, while a higher resistance marker sits near the 100-day exponential moving average around $1,938. The mechanical link between ETF creations and buy pressure means sustained inflows could provide a steady tailwind, but the near-term test is whether weekly inflows persist through late July and broaden beyond one dominant product.
April Outperformance and Rotation Signals
Earlier in the year, Ethereum had already shown signs of strength relative to Bitcoin. In April, the ETH/BTC ratio climbed to its highest level since January, with funding rates flashing what analytics firms described as “familiar ETH greed signals.” Bitcoin ETFs recorded $325 million in net outflows on April 13, led by Fidelity and ARK, while Ethereum ETFs attracted $7.7 million in daily inflows and $187 million on a weekly basis—their strongest performance of the year at that point. Network activity rose 41% week-over-week to roughly 3.6 million daily transactions, and wallets holding at least 100,000 ETH grew from 54 to 57, a pattern that has historically preceded price increases.
However, the picture was not entirely bullish. Stablecoin transfer volume on Ethereum fell 42.6%, and fees dropped nearly 50%, suggesting more transactions but less economic weight behind them. Analysts like CoinMarketCap’s CryptoAnu noted that ETH still faces resistance around $2,400 and that the ratio must reclaim 0.035 on a weekly basis to confirm a genuine altcoin rotation. CryptoAnu also pointed to the Pectra upgrade, saying its economic impact “is finally being felt in 2026 with over 30% of supply now staked and locked away.” Analyst Ledgix urged caution, describing the outperformance as “a signal to observe” rather than chase, noting that when flows begin to move, ETH is typically the first recipient due to its ecosystem depth, staking yield, and growing institutional relevance.
BlackRock Expands Ethereum Offerings with Staking ETF
The launch of ETHB adds a yield-generating mechanism to BlackRock’s Ethereum exposure, differentiating it from ETHA, which holds unstaked Ether. Staking rewards will be distributed monthly and sourced from Ethereum network validators operated by Figment, Galaxy Digital, and Bitwise-owned Attestant. Coinbase serves as custodian for the fund. ETHB’s opening-day volume came in below comparable staking ETF launches tied to Solana—the Bitwise Solana Staking ETF (BSOL) recorded $55.4 million on its October debut, while the REX-Osprey SOL + Staking ETF (SSK) posted $33.7 million when it launched in July. The gap reflects differences in market timing and investor appetite at each fund’s respective launch date.
BlackRock is also pursuing a Bitcoin Premium Income ETF that would sell covered call options on Bitcoin futures to generate yield through collected premiums. The move underscores the asset manager’s broader push into crypto-based income products, with Ethereum now offering a staking yield that appeals to yield-seeking institutional investors.
Overall, the combination of steady ETF inflows, a new staking product, and historical outperformance signals suggest that Ethereum is regaining favor among institutional allocators. While technical resistance and mixed on-chain metrics warrant caution, the reversal of the eight-week outflow streak and the launch of yield-generating vehicles point to a maturing market where Ethereum’s role as a yield-bearing asset is becoming more prominent. The coming weeks will determine whether this is a temporary bounce or the start of a sustained re-accumulation phase.
