Spot Ethereum ETFs took in $1.296B in the first week of October
After September’s turbulence, the first week of October kicked off with a powerful reversal: between September 29 and October 3, U.S. spot Ethereum ETFs recorded roughly $1.296B in net inflows.
The week flipped green from day one and kept momentum through Friday. Daily tally (ET): Mon 9/29: +$546.9M; Tue 9/30: +$127.5M; Wed 10/1: +$80.9M; Thu 10/2: +$307.1M; Fri 10/3: +$233.5M.
The weekly total per SoSoValue is $1.296B, in line with independent roundups (> $1.3B).
Key issuers this week:
It appears the U.S. investment manager VanEck may soon join the ETH spot ETF fray, having opened the door for institutional access to insured ETH.
- BlackRock ETHA: +$691.7M (breakdown: +$154.2M on 9/29; +$127.5M on 9/30; +$26.2M on 10/1; +$177.1M on 10/2; +$206.7M on 10/3).
- Fidelity FETH: +$305.3M (+$202.2M; +$36.8M; +$60.7M; +$5.6M).
- Franklin (ETH): +$144.7M (+$99.8M; +$14.3M; +$12.7M; +$17.9M).
- Bitwise ETHW: +$83.0M (+$36.5M; +$46.5M).
- Grayscale ETHE: +$30.5M (+$22.8M; +$3.6M; +$4.1M).
A powerful Uptober reversal kicked the month off with positive net flows into ETH ETFs. Demand concentrated in the two largest products, ETHA and FETH, which captured about 77% of the week’s net buying, underscoring how leadership is clustered among the biggest issuers.
If this pace holds and Grayscale avoids heavy redemptions, combined assets under management of ETH ETFs have a decent shot at pushing back above $30B in early October (potentially shortly after October 7).
According to Strategic ETH Reserve, the combined holdings of corporate treasuries and U.S. spot ETH ETFs crossed 10% of circulating ETH for the first time. ETH has been on the front foot: its price climbed above $4,500 for the first time since November 2022.
