Ethereum (ETH) held below $1,800 as spot exchange-traded funds tracking the token drew $84 million last week, ending an eight-week run of outflows.
Key Points:
- Spot Ether ETFs took in $84.42 million on a net basis for the week ending Jul. 10, their first positive week since mid-May.
- Ether keeps stalling at the $1,800 level, and daily fund flows remain choppy.
- Analysts read the turn as a corrective bounce, not proof that institutional demand has returned.
Ethereum ETF Flows Turn Positive After Two Months
Data compiled by SoSoValue showed the US spot Ether funds absorbing $84.42 million on a net basis last week, their strongest weekly reading since late April.
Spot Bitcoin (BTC) products snapped a parallel eight-week losing run over the same stretch, pulling in $197.40 million and lifting their combined net assets to $77.42 billion. Net assets held by the Ether funds recovered to $9.59 billion by Jul. 10, roughly an eighth of the total sitting in the Bitcoin equivalents.
The turn was modest rather than decisive.
Daily flows stayed choppy, and the Ether funds gave back $52.08 million on Jul. 9, ending a five-day inflow run that had opened the month on a firmer footing. Fidelity absorbed most of that single-day hit at $33.96 million, BlackRock lost $12.67 million, and cumulative net inflows across the group still stand near $10.96 billion.
Also Read: Ethereum Gains On Bitcoin, Testing Tom Lee's 2026 Bull Case
Analysts Question Ether's $1,800 Ceiling
Simon-Peter Massabni, head of business development at the multi-asset broker XS.com, cautioned earlier this month that Ether's bounce off its lows looked corrective rather than structural. He tallied roughly $1.18 billion in redemptions across seven consecutive weeks, a run he read as evidence that large investors had turned selective about the second-largest cryptocurrency. Massabni also argued that steadier flows could carry the token toward the $1,700 to $1,800 zone, the band it now occupies, and warned that fresh withdrawals could drag it back to $1,500.
He pinned the wider drag on interest rates, saying capital tends to avoid volatile assets whenever policy looks set to stay tight for longer, an argument that has framed much of the market's caution this year. That backdrop softened last week after Federal Reserve Chair Kevin Warsh said inflation risks had eased, a shift a weak US jobs report reinforced.
Contracts on Polymarket priced a July touch of $1,800 at roughly 50% on Jul. 13, while a slip through $1,700 carried about 74% odds, leaving the month's direction unresolved.
Ether's Retreat Since Mid-May
The inflow week broke a slide that began in mid-May, when redemptions started draining Bitcoin and Ether products at the same time. Ether funds recorded their heaviest outflow week on Jun. 26, when $273.34 million left, and Bitcoin funds bled $1.79 billion across those same seven days.
Ether itself has shed about 41% over the past year, swinging between $1,505 and $4,955, and it touched the floor of that range during the redemption wave that has only just ended.
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