Recently, the performance of Ethereum spot ETFs has really given people a sense of "unstoppable." Three consecutive days of net inflow data make it hard not to wonder what is really happening behind the scenes.

On January 6th, Eastern Time, the single-day net inflow reached $115 million, clearly showing the enthusiasm for capital influx. Such momentum is rare in the history of crypto assets—institutional investors are voting with real money, and their choices are incredibly clear.

BlackRock's spot products performed the most impressively in this round. They absorbed $199 million in a single day, bringing the total net inflow to $12.916 billion. Such figures need no embellishment. Meanwhile, 21Shares' products are also steadily following up, with a single-day net inflow of $1.6175 million. Although smaller in scale, their stable growth is worth noting.

Interestingly, Grayscale presents a different picture—yesterday, there was a net outflow of $53 million, and the total net outflow has reached $5.047 billion. The trend of switching between old and new products is particularly evident here, reflecting a change in market preferences for product choices.

Overall, the total net asset value of Ethereum spot ETFs has surpassed $20.058 billion, accounting for 5.13% of Ethereum's total market cap. Although this proportion may not seem particularly high, the speed and momentum of growth make people think—what impact will the continuous influx of institutional funds have on the market?

The total cumulative net inflow has soared to $12.785 billion, indicating that a large amount of traditional capital is entering the Ethereum market through the spot ETF window. With ETF continuously supplying liquidity and the market warming up, can Ethereum leverage this momentum to break previous highs? Perhaps only future price performance can answer this question.