Skip to content
Trading Academy
Support (opens in a new tab)

Lesson 15 of 16 · 3 min read

ETFs and institutions

What spot ETH ETFs are, how much money flowed into them, why they have staked since 2025, what companies buying ETH for their treasury do and what risks it brings.

On this page

In this lesson

  • find out what spot ETH ETFs are and how much money they drew
  • understand why companies buy ETH for their treasury
  • learn why the arrival of big players is no guarantee of a rise

For a long time Wall Street looked at crypto like a wild party in the flat next door. In 2024 the gentlemen in suits rang the bell and asked whether they could come in. The party changed a little – just not the way everyone expected.

ETFMay we come in?
Wall Street arrived in 2024. It brought money – and the ability to leave as fast as it came.

Spot ETFs in the US#

An ETF is a fund traded on a stock exchange. A spot ETH ETF holds real ETH and you buy its shares through an ordinary broker, without a crypto exchange or your own wallet.

  • On 23 May 2024 the US SEC approved the rules for spot ETH ETFs.
  • On 23 July 2024 trading in them began.
  • By 10 October 2026 net inflows reached 13.26 billion dollars and they managed 15.71 billion.

Flows are not one-way. In October 2026 the funds saw nine days of outflows in a row.

Staking inside the funds#

In 2025 US ETFs started staking ETH too:

  • Grayscale was the first to switch on staking in its funds, in October 2025.
  • BlackRock launched the ETHB fund on 12 March 2026; it stakes 70–95% of its ETH and keeps 18% of the rewards.

In Europe staking inside funds (ETPs) has been offered for years – for example by 21Shares or CoinShares.

Companies with ETH in the treasury#

In 2025 some listed companies started buying ETH as the main asset of their treasury:

  • BitMine holds over 6 million ETH (October 2026), almost 5% of the whole supply, and stakes most of it. It announced that it would stop buying at 5%.
  • SharpLink holds roughly 889 thousand ETH (August 2026), practically all of it staked.

The shares of such companies often trade at a big premium or discount to the value of the ETH they hold – and swing even more than ETH itself.

What it means for the price#

When big players buy, the price can rise – and when they sell, it falls. ETFs helped push ETH to its record of 4,957 USD in August 2025. Ten months later ETH was 70% lower, even though the funds and the ETH companies were still there.

Big players do not reduce the risk

Institutions can sell as fast as they bought. A company holding 5% of all ETH is a new risk too: if it had to sell, it would move the market. Wall Street arriving is no guarantee of a rise.

Common myths#

  • "An ETF = the price will rise." After the ETFs launched in July 2024, ETH fell first.
  • "An ETF is the same as holding ETH." You hold a fund share; the custodian holds the ETH and you cannot send or stake anything yourself.
  • "ETH companies will never sell." They can sell when they need money or when their shares fall.

Summary

  • Spot ETH ETFs have traded in the US since 23 July 2024; inflows of 13.26 billion USD (10 October 2026).
  • Since October 2025 US funds stake too; in Europe it has been possible for years.
  • Companies such as BitMine hold millions of ETH, with risks of their own.
  • Institutions add volume, not certainty – after the record in August 2025 ETH fell 70%.