BlackRock’s ETHA, an Ethereum spot ETF, even had the largest single-day net inflow of all-time for its category on Monday with $137 million. Yesterday was the sixth day in a row of net inflows into ETH spot ETFs, with a cumulative total of $205 million. These inflows are indicative of growing institutional interest in Ethereum, particularly with ETHA out front.

According to historical data supplied by SoSoValue, ETHA’s total historical net inflow has already surpassed $6.29 billion. This massive increase is a testament to the fund’s popularity and the overall market’s confidence in Ethereum as an emerging investment asset. The near daily net inflows into Ethereum spot ETFs on an increasing short list of funds continue to prove this point.

In other news, Arthapala took a big step by transferring 4,120 ETH. This deal, worth approximately $12.2 million, was moved to a centralized exchange (CEX). The median transfer price across all of these transactions was just $2,546. The transfer of such a significant amount of ETH has created an energetic discourse between investors and analysts. What motivated the controversial transfer is still unclear.

The substantial net inflows into BlackRock's ETHA reflect a positive outlook on Ethereum's potential. ETHA’s momentum in attracting significant investment shows the rapid maturation of Ethereum spot ETFs as a widely accepted mainstream investment product. To have BlackRock’s ETHA, leading the way with the highest single-day inflow ever, as a primary ETHA shows how strong the ETHA market is.

The transfer of 4,120 ETH by Arthapala to a centralized exchange is an important red flag. The ultimate motivation behind the transaction may be any number of things — strategic portfolio rebalancing, operational requirement, or market-making — but none of that really matters. Investors have their eyes peeled on these kinds of big trades for possible ripple effects throughout the market.