Fineqia's Matteo Greco on $200B Digital Asset ETP Milestone

Fineqia's Matteo Greco attributes the record $200 billion in assets under management for digital asset exchange-traded products (ETPs) to strong market performance and increasing institutional demand. Ethereum ETPs saw a sharp rise, up 87% in July, driven by the asset's doubling in price over the past six weeks and growing demand for digital asset treasury strategies beyond Bitcoin. Altcoin-linked ETPs outperformed basket products, a sign of market maturity, and regional differences in product development are emerging, with the US focusing on spot crypto and staking products, while Europe shifts toward yield optimization.

The digital asset landscape continues to evolve, with Ethereum ETFs (Exchange-Traded Funds) emerging as a significant driver of institutional demand. According to Fineqia's Matteo Greco, the record $200 billion in assets under management for digital asset ETPs reflects strong market performance and increasing institutional interest. Ethereum ETPs saw a sharp rise in July, up 87%, driven by a 100% increase in the asset's price over the past six weeks [1].

This surge in Ethereum ETFs is part of a broader trend where institutional investors are adopting digital asset treasury strategies beyond Bitcoin. The asset's price doubling, coupled with growing demand for diversified portfolios, has led to unprecedented inflows. For instance, U.S. Ethereum ETFs saw $1 billion in inflows on a single day in August 2025, with BlackRock's ETHA and Fidelity's FETH leading the charge [2].

The demand for Ethereum ETPs is not limited to financial institutions. Corporate treasuries, such as BitMine and SBET, are also aggressively accumulating ETH, mirroring strategies seen with Bitcoin. BitMine holds approximately 1.15 million ETH, valued at nearly $5 billion, and is exploring a $20 billion stock issuance to accumulate more [3]. SBET, chaired by ConsenSys founder Joseph Lubin, is emerging as another major ETH holder, with estimates suggesting its ETH treasury could reach over $3 billion post-raise [4].

The increased demand for Ethereum ETPs is tightening liquidity and driving upward price pressure. On peak days, ETF inflows have exceeded Ethereum's daily issuance multiple times, reducing the float available to traders and exerting upward pressure on price [5]. This dynamic is reinforced by the post-Merge reduction in issuance and variable burn rates, creating a structural imbalance that favors long-term bullish sentiment.

Macro-level factors are also contributing to the momentum. U.S. inflation data has kept speculation alive for a September Federal Reserve rate cut, encouraging risk-on positioning. Additionally, the August 7 executive order expanded the potential for retirement accounts such as 401(k)s to include crypto assets, potentially unlocking a new source of capital for ETFs like ETHA and FETH [6].

Ethereum ETFs have also outperformed their Bitcoin counterparts, reflecting a trend toward diversification among institutional investors. This relative strength is likely to persist as firms seek to balance their crypto holdings across multiple digital assets, particularly as applications for ETFs on other major tokens like Solana and XRP are reviewed by the SEC [7].

Looking ahead, the bull case for Ethereum hinges on the continuation of positive ETF flows, corporate treasury accumulation, and a regulatory environment that supports retirement account access. With some banks forecasting end-2025 price targets as high as $7,500, the trajectory appears firmly upward, provided macroeconomic conditions and regulatory clarity remain favorable [8].

However, risks remain, including potential policy shifts, adverse rulings, and large-scale whale distribution, all of which could disrupt the current momentum. If the trend persists, the base case for Ethereum through Q4 2025 is constructive, with institutional demand expected to remain a key driver. Investors and market participants should continue to monitor ETF flow streaks, corporate treasury announcements, and macroeconomic data for confirmation of the trend’s durability [9].

References:

[1] https://www.ainvest.com/news/ethereum-news-today-ethereum-etfs-1-billion-inflows-institutional-demand-surges-2508/
[2] https://www.ainvest.com/news/citigroup-expands-digital-asset-services-focusing-stablecoin-custody-crypto-etfs-2508/
[3] https://www.cryptopolitan.com/ethereum-etf-inflows-corporate-treasuries/
[4] https://www.bitrue.com/blog/solana-and-xrp-etfs-surge-to-32b
[5] https://cryptorank.io/news/feed/83ed2-why-crypto-market-is-up-today-ethereum-nears-4700-on-massive-etf-inflows
[6] https://www.cryptopolitan.com/ethereum-etf-inflows-corporate-treasuries/
[7] https://www.bitrue.com/blog/solana-and-xrp-etfs-surge-to-32b
[8] https://cryptorank.io/news/feed/83ed2-why-crypto-market-is-up-today-ethereum-nears-4700-on-massive-etf-inflows
[9] https://www.cryptopolitan.com/ethereum-etf-inflows-corporate-treasuries/