Meanwhile, $ETH treasury strategies have grown to 2,300,000 ETH (~$8.1B) and have nearly doubled over the last two weeks, now accounting for 2% of the entire supply. Collectively, the top 3 private treasury strategies @BitMNR (567K ETH), @SharpLinkGaming (361K ETH), and @TheEtherMachine (170K) alone hold over 1,000,000 ETH, with much more capital to be deployed. Accelerate 😈

Validator exit queues continue to grow, surpassing 705,000 $ETH (~$2.8B) and are 32% higher than the previous peak in January 2024. Wait times are now approaching 13 days. Interestingly, validator entry queues also remain elevated, with over 280,000 ETH (~$1B) waiting to enter and a current wait time of 5 days.

There is now more than 670,000 $ETH (~$2.5B) in queue to exit the network, with the wait time to exit at nearly 12 days. Capital rotation, profit taking, treasury strategies. Thank you for the mention @CoinDesk @sndr_krisztian 💪

While $BTC ETFs experienced their second consecutive day of net outflows (-$68M), $ETH ETFs had their third-best day ever with $533M in net inflows. ETH ETFs have already added $830B this week compared with BTC's -$199M. In July, ETH ETF inflows have been positive on all but one day, and since the Pectra upgrade on May 7, inflows have been positive 85% of the time. The tides have decidedly turned. h/t @glassnode

9 straight days of 9-figure $ETH ETF inflows, with over $3.2B pouring in. Spot ETH ETFs now collectively hold over 5 million ETH, accounting for more than 4% of the total supply. Buckle up. h/t @FarsideUK

A record-breaking $4.4B of institutional inflows into digital assets last week. This marks the 14th straight week of positive net inflows and pushes the total for July to $9.2B. Perhaps more striking is that $ETH inflows ($2.1B) are now on par with $BTC's ($2.2B). Another interesting angle to monitor is traction with $SOL products, which have grown to $132M on the month, but are still relatively under-indexed. h/t @CoinSharesCo

In less than 6 months after launching, @Uniswap V4 has surpassed $100B of volume. Programmable finance. All onchain. h/t @AlliumLabs

Another day, another record smashed: $726M poured into $ETH ETFs, the highest daily inflow ever. This is more than the entire monthly net inflows for April ($66M) and May ($564M), combined. Meanwhile, daily trading volumes also hit a record $2.66B, shattering the $1.8B high set earlier this week. ETH ETFs ($1.2B) are now in position to outperform $BTC ETF inflows on the week ($1.5B) for the first time ever.

Last week, $ETH ETFs posted their highest inflows ever at over $908M, a 314% increase week-over-week. This also accounted for 29% of all inflows in 2025. This week, we're already on pace to shatter that record and surpass $1B for the first time.

In less than 2 months, @SharpLinkGaming has become the largest ETH treasury on the planet, amassing over 280,000 $ETH (~$836M) and surpassing @ethereumfndn. In June alone, SharpLink increased their ETH holdings by a staggering 59%. Meanwhile, the underlying $SBET stock is up 90% month-over-month and 365% since the treasury strategy launched in May. Congrats and buckle up @ethereumJoseph 😈