
This is the 18-month history of U.S. spot exchange trading, which was the heaviest institutional cash torrent of the day, not Bitcoin. Thursday’s Flow Salties listed net subscriptions as $602 million of nine U.S. Ether ETFs and eliminated $522.6 million, which landed in the 11 queues of U Spot Bitcoin ETFS. The numbers, edited by chain analysis website Sosovalue, marks a symbolic handover between two flagship assets that Bitcoin has dominated inflows since July 2024.
Thursday’s surge was less than twenty-four hours, with Ethereum funds defeating its own single-day record with tempting $726 million, a feat that pushed cumulative holdings to less than five million ETH and raised the spot price of the underlying marker, for the first time since January.
Ethereum beats Bitcoin
The spearhead was yesterday’s Ishares Ticker Etha of BlackRock, which absorbed about $550 million, the second personal best person in a row – Lopp crossed the company’s flagship bitcoin product IBIT at the league table that day. According to streaming data summarized by Arkham Intelligence and Farside Investors, Etha has earned $1.25 billion in the past five courses and now has nearly $7 billion in ETH, accounting for almost one-fifth of all assets in the U.S. Ethereum ETF.
Bloomberg intelligence analyst James Seyffart posted on X, putting the milestone in context: “Since its listing, U.S. live ETHER ETF stocks have earned over $5.5 billion in revenue for over $5.5 billion, including $3.3 billion since mid-April.” He noted that part of the magnetism stems from the return of the double-quantity cash and carrying base of CME ether futures, although only generating positioning does not explain the depth of demand. Seyffart’s CME Open Interest Chart not only shows a sharp rise in nominal ETH, but also a dollar value trajectory that begins to compete with Bitcoin futures activity in early 2025.
Structural tailwinds exceed arbitrage. Nasdaq just applied for an increase in local stake in BlackRock’s Etha, a move that would allow the fund to receive online rewards and increase its possible headline earnings to more than 5%, allowing Ether ETFS to rarely integrate growth assets and revenue tools.
Meanwhile, Bitcoin remains an undisputed heavyweight. Since its debut in January 2024, spot BTC ETFs have accumulated $53 billion in net inflows and directed over $150 billion in assets: Nate Geraci, president of ETF Store, reminded followers that Bitcoin demand has barely cooled down, tweeted on Twitter, and in the past 27 meetings, BTC products have registered $100 million in 26 meetings in the past 26 meetings, which is “over $1 billion” of funds, which is pure funds, which is pure funds.
However, Thursday’s flip in the daily rankings underscores the obvious momentum of Ethereum. Analysts attribute part of the shift to Ethereum-specific catalysts: six-month high production, expected SEC approval for owned Staking-staking-ables-ETFs by the end of the year, and momentum behind Genius and Genius and Clarity Calls, which is a commodity state for hard looms for most large Cap Crypto Assets.
Whether Thursday proves the inflection point or the statistics will depend on the sustainability of the rotation. For now, a once unconscious title (Ethereum ETF beats Bitcoin ETF) captures the market.
At press time, ETH was trading at $3,612.

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