Spot Ether ETFs rack up $3B in August as ETH hits yearly high

US spot Ether exchange-traded funds (ETFs) have recorded over $3 billion in net inflows in the first two weeks of August, marking their second-strongest monthly performance to date, with more than two weeks left in the month

According to ETF data tracker SoSoValue, spot Ether (ETH) ETFs are set to record their strongest week since launch, with more than $2.9 billion in inflows. Since Monday, ETF inflows averaged over $700 million, with the strongest day being Monday, when the funds saw over $1 billion of inflows

The ETF surge comes alongside strong performances from their underlying asset in August. On Thursday, ETH prices climbed to a yearly high of $4,765.83. The surge was followed by a sharp drop below $4,500 before recovering. At the time of writing, ETH trades above $4,600, up nearly 20% this week

The capital surge pushed the total net assets across the spot ETF products to a record $29.22 billion, signaling a wave of renewed investor appetite for ETH exposure through regulated investment mechanisms

Spot Ether ETFs on a five-month inflow streak. Source: SoSoValue## Spot Ether ETFs on a five-month inflow streak

According to SoSoValue data, spot Ether ETFs have attracted cumulative net inflows of $12.73 billion since launch. The asset class is also on the way to a five-month inflow streak heading into September

On Thursday, Spot ETH ETFs recorded net inflows of $639.61 million. BlackRock’s iShares Ethereum Trust (ETHA) led the pack with $519.68 million in net inflows, while the Grayscale Ethereum Mini Trust (ETH) ranked second in daily inflows with over $60 million.

The Fidelity Ethereum Fund (FETH) was in the third spot with nearly $57 million in inflows.

The ETH-based ETF performance follows strong inflows on Wednesday, with $729 million flowing into the crypto investment vehicles. This marked the second-strongest daily inflow record for spot Ether ETFs, following the inflow record on Monday

Related: Sorry, ETH holders, you may have to wait longer for all-time highs

Fundstrat predicts $15,000 ETH by year’s end

As ETH continues to rally, market strategy and research firm Fundstrat’s chief information officer, Thomas Lee, shared a prediction, saying that ETH will be the “biggest macro trade” over the next 10 years.

Meanwhile, the company’s head of digital asset research, Sean Farrell, said ETH could go to a range of $12,000 to $15,000 by the end of the year, claiming that the asset has “plenty of upside.”

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