Foresight News | July 25, 2025
Author: Prathik Desai | Compiled by: Saoirse

July 2024: Skepticism Reigned
When the SEC green-lit U.S.-listed spot Ethereum ETFs on 23 July 2024, the fanfare was muted. Bitcoin ETFs had already siphoned the spotlight, and ETH’s first 39 weeks saw only 15 weeks of net inflows. Early capital actually walked out the door.

June 2025: The Inflection
Fast-forward to June 2025—$3.5 billion in net inflows, a 70 % leap over the prior record of $2.08 billion set in December 2024.
July is on track to beat June, with inflows already above $3 billion.
For the first time in its 52-week life, the ETH ETF complex has now recorded ten consecutive weeks without a single outflow .

AUM has followed the same parabolic arc: $19 billion as of 21 July 2025, double the $9.6 billion mark of just two months earlier .

Beyond ETFs: Corporate “ETH Treasuries”
While ETFs were grabbing headlines, companies began stacking ETH on their balance sheets—a narrative previously reserved for Bitcoin.

• SharpLink Gaming (June 2 2025) – First U.S. public company to adopt ETH as a strategic reserve.

  • 360,807 ETH (~$1.3 billion) now sits on its books.

  • Additional $413 million raised; 567 ETH earned via staking rewards .

  • SEC filing seeks to lift share-sale shelf from $1 billion → $5 billion.

• BitMine Immersion – Bitcoin miner now holding 300 k+ ETH (~$1 billion).

  • Chairman Tom Lee targets 5 % of total ETH supply for staking .

Combined, SharpLink + BitMine already control more ETH than the Ethereum Foundation.

• Ether Machine – Newco merging several entities, targeting a NASDAQ listing with >400 k ETH (~$1.5 billion) .

  • Founded by ex-ConsenSys execs Andrew Keys & David Merin.

Even ARK Invest rotated: trimmed COIN & RBLX, bought $182 million of BitMine across its ETFs; Peter Thiel now owns 9.1 % of BitMine .

Behind the Surge: Foundation & Fundamentals
In April 2025, the Ethereum Foundation split its board from management and set three priorities:

1. Scale the base layer.

2. Optimize L2 Rollups.

3. Improve UX.

Meanwhile, 28 % of all ETH (~33.7 million coins) is already staked—yielding ~3-5 % native returns .

Next Catalyst: Staking-Enabled ETFs
Today, no U.S. ETF can stake its ETH—a regulatory gap BlackRock calls “the missing piece.”

• A 19b-4 amendment from BlackRock lists staking as a “future feature pending SEC approval” .

• Q4 2025 is the consensus estimate for the green light .

With $19.6 billion in ETF AUM, a 4 % staking yield would translate into $750 million annual passive income for issuers—a “digital bond” pitch tailor-made for pension funds, endowments and sovereign wealth funds .

Price & Supply Mechanics

• ETH up >50 % in two weeks, +150 % in three months—a direct echo of institutional buying .

• Each new ETF share locks real ETH, shrinking free float.

• Deflationary issuance + programmable collateral narrative = scarcity + yield, a combo Bitcoin cannot replicate.

Bitcoin = Digital Gold | Ethereum = Programmable Yield
The takeaway for allocators:

• Bitcoin ETFs = macro hedge, hold and forget.

• Ethereum ETFs = productive infrastructure, stake and compound.

Traditional investors are learning the distinction—just in time for the next wave of capital.

Foresight News | July 25, 2025
Author: Prathik Desai | Compiled by: Saoirse

July 2024: Skepticism Reigned
When the SEC green-lit U.S.-listed spot Ethereum ETFs on 23 July 2024, the fanfare was muted. Bitcoin ETFs had already siphoned the spotlight, and ETH’s first 39 weeks saw only 15 weeks of net inflows. Early capital actually walked out the door.

June 2025: The Inflection
Fast-forward to June 2025—$3.5 billion in net inflows, a 70 % leap over the prior record of $2.08 billion set in December 2024.
July is on track to beat June, with inflows already above $3 billion.
For the first time in its 52-week life, the ETH ETF complex has now recorded ten consecutive weeks without a single outflow .

AUM has followed the same parabolic arc: $19 billion as of 21 July 2025, double the $9.6 billion mark of just two months earlier .

Beyond ETFs: Corporate “ETH Treasuries”
While ETFs were grabbing headlines, companies began stacking ETH on their balance sheets—a narrative previously reserved for Bitcoin.

• SharpLink Gaming (June 2 2025) – First U.S. public company to adopt ETH as a strategic reserve.

  • 360,807 ETH (~$1.3 billion) now sits on its books.

  • Additional $413 million raised; 567 ETH earned via staking rewards .

  • SEC filing seeks to lift share-sale shelf from $1 billion → $5 billion.

• BitMine Immersion – Bitcoin miner now holding 300 k+ ETH (~$1 billion).

  • Chairman Tom Lee targets 5 % of total ETH supply for staking .

Combined, SharpLink + BitMine already control more ETH than the Ethereum Foundation.

• Ether Machine – Newco merging several entities, targeting a NASDAQ listing with >400 k ETH (~$1.5 billion) .

  • Founded by ex-ConsenSys execs Andrew Keys & David Merin.

Even ARK Invest rotated: trimmed COIN & RBLX, bought $182 million of BitMine across its ETFs; Peter Thiel now owns 9.1 % of BitMine .

Behind the Surge: Foundation & Fundamentals
In April 2025, the Ethereum Foundation split its board from management and set three priorities:

1. Scale the base layer.

2. Optimize L2 Rollups.

3. Improve UX.

Meanwhile, 28 % of all ETH (~33.7 million coins) is already staked—yielding ~3-5 % native returns .

Next Catalyst: Staking-Enabled ETFs
Today, no U.S. ETF can stake its ETH—a regulatory gap BlackRock calls “the missing piece.”

• A 19b-4 amendment from BlackRock lists staking as a “future feature pending SEC approval” .

• Q4 2025 is the consensus estimate for the green light .

With $19.6 billion in ETF AUM, a 4 % staking yield would translate into $750 million annual passive income for issuers—a “digital bond” pitch tailor-made for pension funds, endowments and sovereign wealth funds .

Price & Supply Mechanics

• ETH up >50 % in two weeks, +150 % in three months—a direct echo of institutional buying .

• Each new ETF share locks real ETH, shrinking free float.

• Deflationary issuance + programmable collateral narrative = scarcity + yield, a combo Bitcoin cannot replicate.

Bitcoin = Digital Gold | Ethereum = Programmable Yield
The takeaway for allocators:

• Bitcoin ETFs = macro hedge, hold and forget.

• Ethereum ETFs = productive infrastructure, stake and compound.

Traditional investors are learning the distinction—just in time for the next wave of capital.