Key Takeaways:
- Ethereum ETFs recorded $2.83B inflows in August, despite brief outflow days on August 15 and 18.
- ETH ETF holdings surged to 6.29M ETH, nearly doubling in six months and now 5.08% of total supply.
- ETH ETFs could surpass Bitcoin ETFs by September, according to a data scientist from Dragonfly Capital, signaling stronger institutional demand for Ethereum.
Ethereum (ETH) based exchange-traded funds (ETFs) have gained significant momentum recently. Nonetheless, the latest reported ETH ETFs recorded negative net flows on August 15th and August 18th at $59.34 million and $196.62 million, respectively. But the spot ETH ETF net flows for July recorded the highest ever proceeds at $5.43 billion since its inception.
Spot ETH ETFs have recorded net flows of $2.83 billion in August. On the other hand, spot Bitcoin (BTC) ETFs for August reported negative net flows at $139.48 million at the time of reporting.
According to data shared by Dragonfly Capital data scientist and analyst, Hildobby, also host of the Indexed Podcast, tweeted saying that with the current pace ETH exchange-traded funds are on track to surpass BTC ETFs in terms of supply held as early as September.
According to data from Dune Analytics, ETH-based ETFs currently hold 6.29 million ETH, amounting to $26.92 billion, representing approximately 5.08% of the current ETH supply.
However, even though BTC remains slightly ahead at 6.38%, it represents the share held by ETFs out of the total current BTC supply. It is important to note that the growth rate of ETH ETF holdings has outpaced BTC in 2025. Within just 6 months, ETH ETFs went from 3.5 million ETH to 6.29 million ETH, nearly doubling.
If the trajectory continues, ETH ETFs could surpass BTC ETFs by September, as Hildobby had pointed out. For investors and traders, the rise of ETH ETFs represents a broader shift in market power from retail speculation to institutional accumulation. If inflows continue at their current rate, Ethereum ETFs might surpass Bitcoin ETFs in holdings within weeks, cementing ETH’s position as the second-most important digital asset in global markets.
