Ethereum News Today: Ethereum Surges 7.3% as $726.6M Flows into U.S. Spot ETFs

Ethereum has emerged as the leader in the crypto market, with its price surging by 7.3% on July 14, driven by a record-breaking $726.6 million net inflow into U.S. spot Ether ETFs. This influx of capital has fueled a 40% monthly rally for Ethereum, with its price increasing from $2,403.27 at the beginning of July to $3,378.77. The 14-day price gain stands at 30.5%, indicating strong investor sentiment and growing institutional interest.

The unprecedented inflows into Ethereum ETFs have been led by major financial institutions. BlackRock’s ETHA saw the largest inflow with $499.2 million, followed by Fidelity’s FETH with $113.3 million. Other significant inflows include Grayscale ETHE with $33 million, Grayscale ETH with $54.2 million, Bitwise ETHW with $14.4 million, Franklin’s EZET with $5.1 million, VanEck’s ETHV with $3.7 million, and Invesco’s QETH with $3.7 million. Combined, these ETFs now hold over 5 million ETH, which is nearly 4% of Ethereum’s total circulating supply of 120.7 million ETH.

The massive demand for Ethereum through ETFs has outpaced the network’s issuance of new ETH. In the past 24 hours, the network issued approximately $6.74 million worth of ETH, while ETFs purchased over 107 times that amount. This imbalance between issuance and demand could lead to supply-side pressure, potentially driving ETH prices even higher in the short term.

The latest price action suggests a full-blown altcoin rotation is underway. While Bitcoin’s price briefly touched $123,000 before cooling off, other altcoins such as XRP, Solana, and Dogecoin have outpaced Bitcoin’s gains. XRP surged by 7.7%, BNB by 3.4%, Solana by 5.2%, Dogecoin by 7%, and Cardano by 3.7%. This rotation indicates that capital is flowing into Ethereum and other major altcoins, which are now posting larger gains than Bitcoin.

Ethereum’s price explosion is largely driven by unprecedented inflows into U.S. spot Ether ETFs. The record-breaking $726.6 million net inflow into ETH ETFs on July 14 is the largest daily intake since launch. This surge in institutional demand is driving Ethereum’s bullish momentum, with the price breaking above $3,300 fueled by massive spot ETF purchases. The price breakout above $3,300 was fueled by massive spot ETF purchases, far outpacing new ETH issuance. ETFs bought over 107 times more ETH than was created by the network in the last 24 hours.