TLDR
Over the past week, BlackRocks iShares Ethereum Trust (ETHA) and Fidelitys Ethereum Fund (FETH) led net inflows among US spot ETH ETFs.
- On 24 Nov, ETHA added $92.6 million in net inflows BlackRock ETHA inflow.
- On 25 Nov, FETH logged $47.54 million and ETHA $46.09 million daily ETH ETF leaders.
- On 26 Nov, ETHA took in $50.22 million, topping peers ETHA led inflows.
Deep Dive
1. BlackRock ETHA
BlackRocks ETHA consistently appeared as the top daily inflow leader. It recorded $92.6 million on 24 Nov and $50.22 million on 26 Nov, outpacing other issuers on both days 24 Nov ETHA, 26 Nov ETHA.
Ether ETFs also flipped back to net inflows for the week after a bruising stretch, with $312.6 million weekly inflows and cumulative net inflows now near $12.94 billion since launch weekly and cumulative flows.
ETHA is acting as a bellwether for institutional demand in Ether, and recurring leadership on multiple days signals renewed appetite.
2. Fidelity FETH
Fidelitys FETH was the other standout, leading on 25 Nov with $47.54 million as ETHA followed with $46.09 million that day daily ETH ETF leaders.
Other snapshots in the week show FETH among the strongest contributors during the Ether ETF rebound phase, indicating broader issuer participation beyond BlackRock continuing daily inflows.
Leadership rotated between BlackRock and Fidelity, suggesting inflows are not concentrated in a single fund and institutions are diversifying vehicles.
3. Trend Context
The inflow leadership occurred as Ether ETFs broke a multi?week outflow streak, with daily prints repeatedly in the green across several issuers four straight days of inflows.
Flows were mixed under the hood. Grayscales legacy ETHE saw $23.33 million in outflows even as Grayscales mini trust and other issuers posted inflows issuer breakdown.
The headline turnaround is real, but leadership can vary day to day and legacy structures may still face redemptions.
Conclusion
Across the past week, BlackRocks ETHA and Fidelitys FETH most frequently led daily net inflows into US spot Ether ETFs. The rotation back to weekly net inflows and multi?day positive prints suggest institutions are rebuilding ETH exposure, with fund leadership alternating between the largest issuers.
