Weekly inflow of US spot Ethereum ETF was US$105 million, the largest weekly net inflow since April

The weekly net inflow of the U.S. Ethereum Spot ETF reached US$105 million, a record high since April.

Between July 13 and 17, U.S. -listed Ethereum Spot Exchange-Traded Funds (ETFs) attracted a total of US$105 million in net inflows, setting the best weekly performance since April. This is also the second consecutive week that this type of product has achieved net subscriptions, marking a turn in investor sentiment after eight consecutive weeks of capital outflows. According to data from multiple fund trackers, net investment in the previous week was approximately US$84 million.

Institutional demand shift: Net outflows end

Recent continuous capital inflows reflect a significant attitude change among institutional allocators-they had continued to withdraw funds from Ethereum-related investments in late spring and early summer. Although the current capital return is limited, it suggests that the Ethereum ETF market, which has continued to decline before, may be stabilizing.

Among the many Ethereum ETF products, BlackRock's iShares Ethereum Trust (ETHA) has become the main driving force for this round of net subscriptions. Weekly reports show that ETHA accounts for most of the positive daily capital flows. In one follow-up transaction, the overall net inflow reached approximately US$53.8 million, and ETHA contributed almost the vast majority of it.

ETHA's lead is primarily due to BlackRock's brand reputation among institutional investors and the simplification of distribution channels for its products, making it the preferred choice for investors seeking exposure to Ethereum while avoiding direct custody and operational complexity.

"ETHA's distribution network and brand effect make it the most convenient way to enter, suitable for those who want to reap the benefits of Ethereum beta but do not want to bear hosting or operating costs. But it also means that the 'recovery' of the category is fragile-once the growth rate of ETHA slows down, the entire product system may quickly return to a net outflow state."

Key technical levels of Ethereum prices

During the recent capital inflow period, Ethereum prices traded in the middle range of US$1800. According to data from multiple price aggregation platforms, spot prices were concentrated between US$1845 and US$1850. Analysts continue to focus on $1800 as key demand support, while resistance is near the 100-day index moving average of around $1938.

ETF structure has a direct mechanical impact on the market: to create new ETF shares, issuers must buy and hold the actual Ethereum, which means that continued inflows of funds translate into continued buying pressure. However, the recent weekly inflow of US$80 million to US$105 million is important mainly because it reverses previous negative trends rather than represents a new high in market activity.

Weekly ETF net inflow and Ethereum price range:
July 6 - 12: net inflow of US$84 million, price range of US$1845 - 1850
July 13 - 17: net inflow of US$105 million, price range of US$1845 - 1850

Next steps after the trend stabilizes

Investors now face a clear test: whether weekly inflows to the Ethereum ETF can continue through late July and whether buying can expand from a single dominant product into a wider range of sectors. If positive capital flows continue or expand, the market narrative may shift from short-term rebound to reaccumulation, providing stronger support for Ethereum to approach resistance levels near $1900.

Conversely, if capital inflows lose momentum, Ethereum's technical support level near $1800 may face new pressure, limiting short-term price recovery. Although the current trend cannot be compared to previous ETF bouts, it suggests that institutional participation in Ethereum spot exposure is heating up again.

"The near-term test is simple: Can weekly capital inflows continue into late July and expand from a single dominant product to a wider range of areas? If the flow of funds recedes, Ethereum's support near $1800 will lose an important pillar. If capital flows continue to grow, the market narrative will shift from 'rebound' to 're-accumulation,' and Ethereum will have a greater chance of regaining levels above $1900."