US spot Ether exchange-traded funds (ETFs) attracted $287.6 million in net inflows on Thursday, ending a four-day streak of outflows, according to data from crypto ETF tracker SoSoValue.
The recovery comes after a period marked by significant outflows, with funds losing over $924 million between August 15 and Wednesday. The largest withdrawal occurred on Tuesday, with spot Ether (ETH) ETFs experiencing an exit of $429 million, marking the second-highest daily net outflow this month, following the $465 million that departed the market on August 4.
Leading the way on Thursday was asset manager BlackRock’s iShares Ethereum Trust (ETHA) with $233.5 million in inflows, while the Fidelity Ethereum Fund (FETH) contributed $28.5 million. Other ETFs averaged roughly $6 million in net inflows for the day.
This influx has raised cumulative net inflows to over $12 billion, indicating renewed investor interest following a week of withdrawals.
Total ETF reserves reach $27.66 billion
According to the ETH reserve tracker Strategic ETH Reserve (SER), spot Ether ETFs currently hold a total of 6.42 million ETH valued at $27.66 billion. The investment products recorded a daily net inflow of 66,350 ETH, bringing their total reserve holdings to 5.31% of Ether’s circulating supply.
In addition to ETFs, corporate treasury reserves and long-term holdings across major institutions now stand at 4.10 million ETH, valued at $17.66 billion. SER data indicates that these holdings account for 3.39% of Ether’s supply.
Companies such as SharpLink Gaming have maintained strong momentum with significant ETH purchases. On Tuesday, the company acquired $667 million in Ether near record highs, raising its total holdings to over 740,000 ETH worth $3.2 billion.
SharpLink is currently the second-largest ETH treasury holder, following Bitmine Immersion Tech, which holds 1.5 million ETH.
Related: ETH charts predict $3.9K retest, then a 100% rally to new highs
Redditors discuss whether corporate ETH purchases add genuine value
The concentration of ETH among major institutions has prompted an online discussion amongst community members, some of whom question whether these corporate ETH purchases contribute real value to the ecosystem.
On Wednesday, a Redditor initiated a conversation about how ETH “hoarding” by treasury companies adds value to Ethereum, perceived by them as foundational to decentralized finance (DeFi).
A community member argued that the benefits lie in the price impact, which reduces the circulating supply. They also noted that the ETH purchased by institutions might be staked, thereby supporting the network.
Another community member disagreed, asserting that there are already “more than enough” stakers within the network, and additional ones would not provide any benefit.
This member contended that central entities introducing more stakers diminishes decentralization, a principle highly valued by the network.
Another Redditor suggested that the ETH community should view this as a positive development, claiming it brings more attention to ETH, thereby increasing its value. With ETH on the rise, the user stated that DeFi utility also grows, as ETH serves as a foundational asset for many protocols.
Magazine: How Ethereum treasury companies could spark ‘DeFi Summer 2.0’
