Ethereum Spot ETFs Draw $270M Net Inflow; BlackRock’s ETHA Leads

The concentration of flows in BlackRock's ETHA, which alone accounts for a large share of the daily total, suggests institutional demand for Ethereum exposure is consolidating around the largest, most liquid vehicles rather than spreading evenly across the field. That matters for the smaller issuers, whose ability to build durable AUM depends on flows broadening beyond the top two names. Whether ETHA's dominance persists, or FETH and others start capturing a larger share, is the open question worth tracking in the coming sessions.