Spot Ether ETFs Hit Record Weekly Inflow of $855M

US Spot Ether (ETH) ETFs recently witnessed a significant surge in investment, setting a new record for weekly inflows. Data from on-chain aggregator SoSoValue reveals that these funds attracted $855 million from December 9 to December 13, marking their highest-ever weekly inflows in history.

ETHA Dominates Weekly Inflows

BlackRock’s Ether ETF (ETHA) led with $523 million in weekly inflows, pushing its total net inflows to $3.20 billion and raising its net assets to $3.86 billion. Following closely behind, Fidelity’s FETH attracted $259 million, while Grayscale’s ETHE also saw significant investor interest during the same period.

On December 13 alone, daily inflows revealed that ETHA led with $9.5 million, while ETHE and FETH followed with $7.2 million and $6.86 million, respectively. These remarkable inflows into spot ETH ETFs reflect growing institutional confidence in Ethereum. The trend is evident in the significant investments pouring into Ether ETFs, including from major institutional players like the State of Michigan Retirement System.

Michigan recently became the first state pension fund to invest in Grayscale’s Ethereum ETF, marking a notable shift towards Ethereum in institutional portfolios. According to a CoinTab report, Michigan’s pension fund purchased 460,000 shares in the Grayscale Ethereum Trust (ETHE), valued at approximately $10 million by the end of Q3. Additionally, the fund holds 460,000 shares in Grayscale’s Ethereum Mini Trust ETF, worth about $1.1 million.

Surge in On-chain Fees 

Ethereum is also seeing a significant rise in on-chain transaction fees, with weekly fees hitting $67 million, the highest since April 2024. Blockchain analytics firm IntoTheBlock noted a 17.9% increase in fees, signaling heightened activity on the network driven by a surge in decentralized finance (DeFi) usage and market shifts.

Along with the increase in transaction fees, IntoTheBlock reported a sharp decline in exchange flows, with net outflows from trading platforms totaling $778 million. This suggests some investors are moving their ETH holdings to personal wallets, signaling confidence in the asset’s long-term value.

Ether’s price reached $3,965 on Monday, marking a 1.8% increase in the past 24 hours.