Ether outperformed the broader crypto market this week, rising approximately 11 percent over seven days as most major tokens remained flat or declined. Bitcoin, by contrast, gained 4.2 percent over the same stretch, while the rest of the large-cap market showed limited upside.
U.S. spot ether ETFs received $96 million in inflows during the first three days of the week, concentrated heavily in BlackRock’s low-fee products. On Wednesday alone, BlackRock’s ETHA absorbed $45.3 million of the $53.8 million inflow that day, with its ETHB product taking $4 million. The remaining eight ether ETF products split less than $5 million combined.
The inflow pattern contrasts sharply with the previous week, when ether ETFs drew $84 million. On June 25, ether ETF products recorded $82 million in outflows, underscoring the volatility of institutional demand for the token.
Grayscale’s ether trust, which charges a 2.5 percent management fee, has seen $5.3 billion in outflows since its launch. BlackRock’s ether ETF products charge 0.25 percent, a significant competitive advantage that appears to be driving allocator preference toward the lower-cost alternative.
Bitcoin ETF Flows Remain Volatile
Bitcoin ETF flows showed no sustained directional momentum. On July 13, U.S. spot bitcoin ETFs shed $424 million. The following day, July 14, they recovered $181 million of those outflows. The pattern suggests allocators are not building new positions in bitcoin but rather adjusting existing holdings.
Bitcoin traded at $64,600 on Thursday, down 0.3 percent that day, while ether reached $1,920 with a 2.2 percent daily gain. Ether’s market value stood at $231 billion with $12 billion in daily volume. Bitcoin dominance remained at 58.3 percent.
Robinhood Chain Drives Ether Gas Demand
Robinhood Chain, a layer-2 network launched July 1, processed $800 million in daily decentralized exchange volume and uses ether for gas fees. The network has generated consistent transaction activity since its debut, though on-chain data from Nansen indicates the volume is concentrated in memecoin trading rather than broader decentralized finance activity.
Bitcoin on-chain data via Nansen shows exchange outflows holding steady with no meaningful rotation into stablecoins. Funding rates near zero suggest overleveraged long positions from June have been cleared from the market.
Frequently Asked Questions
How much did U.S. spot ether ETFs take in this week?
They received $96 million in inflows over the first three days, concentrated in BlackRock's low-fee products; on Wednesday BlackRock's ETHA absorbed $45.3 million of the $53.8 million inflow that day.
How do BlackRock's and Grayscale's ether fees compare?
BlackRock's ether ETF products charge 0.25 percent, while Grayscale's ether trust charges a 2.5 percent management fee and has seen $5.3 billion in outflows since launch.
What drove ether gas demand?
Robinhood Chain, a layer-2 network launched July 1, processed $800 million in daily decentralized exchange volume and uses ether for gas fees, though Nansen data shows volume concentrated in memecoin trading.
