Are Ethereum Whales Buying Again? Looking at ETF Data

Ethereum appears to be back in the spotlight among institutional investors and crypto whales, with ETF inflows surging to historic highs. In the week ending July 11, 2025, Ethereum exchange-traded funds (ETFs) registered nearly $908 million in net inflows, the highest weekly figure since these products launched in July 2024. This surge points to renewed accumulation by large holders and institutions betting on Ethereum’s long-term value.

The buying spree coincides with a notable price rally, with ETH rising over 17% and breaking past the $3,000 mark. Institutional interest is growing not only due to Ethereum’s price momentum but also its value proposition through staking yields, DeFi exposure, and network development. For those in crypto and Web3, this movement reflects deeper confidence in Ethereum as a key asset in the blockchain economy.

Ethereum ETF Inflows: What the Data Tells Us About Whale Activity

A close look at ETF data reveals strong and sustained demand for Ethereum from major players. Notably, the bulk of inflows occurred over three consecutive days—July 9 to 11—with $383 million entering the market on July 10 alone, marking the single largest day since the ETF rollout began.

BlackRock’s Ethereum ETF, ETHA, led the charge. On July 10, it saw $300 million in inflows, pushing its total holdings to over 2 million ETH. This movement has caught the attention of analysts who now point out that three of the top 10 ETF inflow days for Ethereum have occurred within this week, signaling a concentrated return of institutional buyers.

This accumulation pattern by ETFs, which directly purchase ETH to back shares, implies that long-term holders are positioning themselves ahead of anticipated developments in the Ethereum ecosystem—whether it be scaling upgrades, increased staking activity, or DeFi expansion.

Read more: Will Ethereum Hit $4,000 This Month? A Complete Analysis

Ethereum Price Rally: Fueled by ETF Demand?

The timing of these ETF inflows appears closely linked with Ethereum’s strong weekly price performance. Over the same period, ETH jumped by 17%, breaking through the psychologically important $3,000 resistance level. This breakout is not purely speculative—it’s also being supported by reduced circulating supply, as ETF buying effectively locks ETH in institutional custody.

In addition to price action, BlackRock’s reported shift in crypto allocation—favoring more ETH over BTC—has become a critical signal. This preference may be due to Ethereum’s staking yields, which offer a passive return on holding ETH, as well as its foundational role in decentralized applications and smart contracts. The sentiment points to a strategic pivot among asset managers toward more utility-driven assets in the blockchain sector.

Conclusion

The recent record-breaking inflows into Ethereum ETFs, led by BlackRock and other institutional entities, confirm that Ethereum whales are actively buying again. The data suggests not just short-term price speculation, but a broader, long-term commitment to Ethereum’s role in the evolving crypto economy. Whether driven by staking rewards, DeFi dominance, or structural upgrades, ETH is clearly regaining institutional favor.

This renewed accumulation also brings optimism to the broader crypto market, hinting at a possible altseason narrative where assets like Ethereum take center stage in investor portfolios. For traders and builders in the Web3 space, this could signal a fresh wave of momentum going into the second half of 2025.

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FAQ 

Are Ethereum whales accumulating again?

Yes, data from Ethereum ETFs shows that large holders and institutions are buying ETH again, with nearly $908 million in net inflows last week.

What is driving the recent Ethereum price rally?

The rally is partly fueled by high ETF demand, reduced supply from institutional purchases, and renewed confidence in Ethereum’s staking and DeFi potential.

Why is BlackRock buying more Ethereum than Bitcoin?

BlackRock appears to favor ETH for its staking yields, utility in smart contracts, and broader DeFi ecosystem exposure.

How do ETF inflows affect Ethereum’s price?

ETF inflows typically reduce available supply on exchanges and indicate long-term investor interest, which can drive price upward.

When did Ethereum ETFs launch?

Ethereum ETFs were launched in July 2024, and the week ending July 11, 2025, marked their largest weekly inflow to date.