Ethereum breaks the $4 billion bar through ETFs and reinforces its status as a digital underlying asset
01 Jul 2025

In the first hours of July, the U.S. market witnessed an event that strengthened Ethereum's position as an institutional asset: total net investments in spot ETFs for the underlying coin exceeded $4 billion, with the last billion coming in just fifteen trading sessions. ETH has consolidated near $2,900, despite moderate profit taking after the powerful June rally.
The rhythm of inflows is not slowing down: On June 30, funds received another $31.8 million, marking the second consecutive day of steady inflows. Fidelity's FETH accounted for $25.7 million, while BlackRock's product added $6.1 million, underscoring the strategic reallocation of capital by large managers in favor of smart contract-based assets.
Institutional appetite has supported a 20% jump in price over the past two weeks and brought the asset closer to the psychological $3,000 bar. Analysts attribute the move not only to macro optimism, but also to a reduction in available supply caused by regular fund purchases.
The network's fundamentals reinforce the confidence: about 10,200 ETH are burned daily, and after the switch to Proof-of-Stake, the annualized issuance has turned negative at -0.75%. There are 117.2 million coins in circulation, with 30.2 million staked by 1.04 million validators. Large wallets with balances over 10,000 ETH added another 72,000 coins in June, capturing strategic accumulation. At the same time, daily burn is falling along with commissions, reinforcing the scarce nature of the token.
Network metrics also signal maturity: transactions on Layer-2 are already overtaking the main layer by 60%, the average commission has dropped to $0.08, and the aggregate TVL in decentralized applications has reached $45 billion. Thus, user growth is no longer limited by bandwidth.
On the regulatory front, the U.S. Securities Commission has opened public hearings on allowing steering within ETFs. The potential approval will allow funds to generate natural yields, and for institutional investors will create an additional argument in favor of long-term allocation to ETH.
The acceleration of capital is evident: while the first $3 billion in funds took 210 sessions to raise, the latest billion came in less than three weeks. This dynamics demonstrates the networking effect between asset managers and corporate treasuries.
The combination of a deflationary issuance pattern, rising institutional demand, and regular technological upgrades form a steady demand for the underlying crypto asset. In case of a confident breakdown of the $3,000 level, market benchmarks will shift to $3,460 and above, where the asset has met serious resistance in past cycles, and could open the way to new all-time highs.