Ethereum ETFs Surge with $140 Million Inflows as Fusaka Upgrade Ignites Market Rally

Ethereum ETFs Attract $140 Million in Fresh Inflows

Ethereum has bounced back strongly this week as US-listed spot Ethereum exchange-traded funds (ETFs) recorded $140 million in net inflows on December 3rd — a sharp turnaround after two consecutive days of outflows.

This institutional rush coincided with the blockchain’s latest milestone — the successful execution of the Fusaka network upgrade, a move widely celebrated for improving efficiency and reducing transaction costs across Ethereum’s growing ecosystem.

Strong Institutional Demand Across Major Funds

According to data from Farside Investors, all nine US spot Ethereum ETFs either saw positive or neutral flows, with none posting outflows for the day. Leading the charge:

BlackRock’s iShares Ethereum Trust (ETHA): +$53 million
Fidelity Ethereum Fund (FETH): +$34.4 million
Grayscale Ethereum Trust (ETHE): +$27.6 million
Grayscale Mini Ethereum Trust (EETH): +$20.7 million
Bitwise Ethereum ETF (ETHW): +$4.5 million

These flows offset the $89 million combined outflows from December 1–2, signaling a strong resurgence in confidence.

Fusaka Upgrade Sparks Renewed Optimism

The Fusaka upgrade, a major technical enhancement rolled out on December 3rd, has become a key market catalyst. The upgrade significantly increased “blob” capacity — a mechanism designed to make Ethereum block data more efficient — by eightfold.

In practical terms, this means Layer-2 transaction fees could drop by as much as 60%, improving scalability and making applications such as decentralized finance (DeFi) and Web3 gaming cheaper to use.

“The crypto market has found its bearings again,” commented Tom Lee, chairman of BitMine, who confirmed a $150 million Ethereum purchase following the Fusaka upgrade. “We’re moving into a phase where Ethereum’s fundamentals are driving its growth story again.”

Ethereum Price Soars Past $3,200

Ethereum’s price responded in kind, jumping 6.7% in 24 hours to trade around $3,195 on December 4th. Analysts say Fusaka’s success and renewed institutional interest are combining to sustain bullish momentum heading into year-end.

Meanwhile, Bitcoin ETFs saw mixed results, recording $15 million in net outflows after a five-day streak of gains.

BlackRock’s IBIT continued attracting interest with +$42 million inflows.
Ark Invest’s ARKB and Grayscale’s GBTC faced outflows of $37 million and $20 million respectively.

This divergence underscores investor sentiment — with capital shifting toward Ethereum, which currently boasts a clear technical and network upgrade advantage.

Market Outlook: Ethereum Regains Its Edge

As Ethereum solidifies its position as the leading smart-contract platform, the Fusaka upgrade is expected to pave the way for further network innovations in 2026. With improved scalability and growing institutional participation through ETFs, Ethereum could be poised to retest previous highs if bullish momentum holds.

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