Fidelity’s spot Ethereum ETF just posted its best stretch of client buying in roughly two months. FETH pulled in approximately $28.57 million in net inflows on a single day this week, putting it at the top of the US spot ETH ETF leaderboard and marking the strongest weekly demand the fund has seen since late April.
That one-day haul accounted for more than a third of the $82.37 million that flowed into all US spot Ethereum ETFs on the same day. The last time ether-focused funds saw this kind of enthusiasm, the week ending April 10 brought in $187 million across the entire category.
What’s driving the money back into ether ETFs
Fidelity has consistently ranked among the top two recipients of ETH ETF inflows this year, trading the top spot back and forth with BlackRock’s ETHA. Part of that comes down to pricing. FETH carries an expense ratio of 0.25%, which Fidelity initially waived entirely to draw in early investors when the fund launched in July 2024, shortly after Bitcoin ETF approvals opened the door for ether products.
Market participants have started interpreting these capital flows as a signal that some investors are rotating toward Ethereum during stretches when Bitcoin underperforms.
