Spot Ether exchange-traded funds (ETFs) in the United States recorded $287.6 million in net inflows on Thursday, ending a four-day outflow trend, as per data from crypto ETF tracker SoSoValue.
This recovery comes after a phase of continuous outflows, totaling over $924 million lost between last Friday and Thursday. The peak withdrawal occurred on Tuesday, when spot Ether (ETH) ETFs saw $429 million exit — the second-largest daily outflow this month, surpassed only by the $465 million that left on Aug. 4.
BlackRock’s iShares Ethereum Trust (ETHA) topped the day with $233.5 million in inflows, while the Fidelity Ethereum Fund (FETH) followed with $28.5 million. Other ETFs averaged around $6 million in net inflows during the day.
The influx of fresh capital raised cumulative net inflows to over $12 billion, signaling renewed interest among investors after a week of withdrawals.
Spot Ether ETF inflow and outflow data in August. Source: SoSoValue
Total ETF reserves hit $27.66 billion
According to the ETH reserve tracker Strategic ETH Reserve (SER), spot Ether ETFs currently account for a total of 6.42 million ETH, valued at $27.66 billion. The investment vehicles observed a daily net inflow of 66,350 ETH, which brought their total reserves to 5.31% of Ether’s circulating supply.
In addition to ETFs, corporate treasury reserves and long-term holdings across major institutions have reached 4.10 million ETH, valued at $17.66 billion. SER data indicates that these holdings compose 3.39% of Ether’s supply.
Companies like SharpLink Gaming have continued to show considerable activity with significant ETH acquisitions. On Tuesday, the firm purchased $667 million in Ether at near-record highs, raising its total holdings to over 740,000 ETH valued at $3.2 billion.
SharpLink now stands as the second-largest ETH treasury holder, next to Bitmine Immersion Tech, which holds 1.5 million ETH.
SharpLink gaming ETH treasury purchase data. Source: Strategic ETH Reserve
Related: ETH charts predict $3.9K retest, then a 100% rally to new highs
Redditors debate whether corporate ETH purchases add real value
The accumulation of ETH by major institutions has ignited discussions within the community, with some questioning the actual value brought to the ecosystem by corporate ETH purchases.
A Redditor initiated a conversation on how “hoarding” ETH by corporate treasuries impacts the value of Ethereum, seen as a cornerstone of decentralized finance (DeFi).
A community member argued that the price impact is beneficial, as it decreases circulating supply. Furthermore, the ETH acquisitions by institutions might also be staked, supporting the network’s infrastructure.
Conversely, another community member disagreed, stating that there are already “more than enough” stakers in the network and that adding more won’t be advantageous.
This member contended that increased stakers from central entities may undermine decentralization, which is a fundamental principle of the network.
Another Redditor said the ETH community should view this as a positive development, as it draws attention to ETH, making the asset more valuable. With the rise in ETH value, the user claimed that DeFi utility also increases, given that ETH serves as a foundational asset in numerous protocols.
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