Institutional demand for Ethereum (ETH) is gaining serious momentum. Yesterday, July 22, Ethereum ETFs experienced one of their largest single-day inflows in two weeks, bringing in $533 million.
In sharp contrast, Bitcoin ETFs recorded $68 million in outflows, a striking reversal that hints at a potential shift in institutional crypto appetite.
This marks one of the biggest day-to-day divergences between the two flagship cryptos since spot Ethereum ETFs launched earlier this year. Some traders are now pointing to this move as a possible signal that ‘altcoin season’ is getting underway.
Institutions rush in
Fidelity made one of the biggest single-day buys this week, with its Ethereum Fund (FETH) adding 33,788.82 ETH, roughly $124 million, in just one day. The purchase brings Fidelity’s total Ethereum holdings to 629,202 ETH, valued at approximately $2.33 billion at current market prices.
But Fidelity isn’t alone in this institutional rush. BlackRock also expanded its Ethereum position, purchasing 27,158.86 ETH valued at nearly $100 million via its iShares Ethereum Trust (ETHA). The asset management giant now holds 2.59 million ETH, making it the single-largest institutional holder of Ethereum among ETFs.
The scale of institutional interest becomes clear when examining the broader picture. Across all listed Ethereum ETFs, net inflows have surged by 650,468 ETH over the past seven days, with total ETF holdings now surpassing 5.22 million ETH, equivalent to $19.31 billion.
Other major funds such as Grayscale, Bitwise, and VanEck also recorded substantial weekly inflows. Notably, Grayscale’s Ethereum Mini Trust saw a seven-day net inflow of 60,529 ETH, while Bitwise added 12,758 ETH.
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