Key TakeawaysSpot Ether ETFs snapped a 4-day outflow streak with $287.6M in inflows.BlackRock’s iShares Ethereum Trust (ETHA) led with $233.5M, followed by Fidelity’s FETH with $28.5M.Spot ETFs now hold 6.42M ETH ($27.66B), equal to 5.31% of supply.Institutions like SharpLink Gaming continue to add to treasury reserves.ETF Flows: BlackRock Takes the LeadAfter four straight days of outflows totaling $924M, spot Ether ETFs reversed course on Thursday with $287.6M in net inflows, per SoSoValue.BlackRock’s ETHA dominated with $233.5M inflows.Fidelity’s FETH added $28.5M.Smaller ETFs collectively saw around $6M in inflows.This rebound signals renewed institutional demand after earlier selling pressure that saw $429M exit in a single day on Tuesday, one of the largest daily outflows this month.Ethereum ETF Holdings Hit $27.66BSpot Ether ETFs now collectively hold 6.42 million ETH, worth $27.66B, representing 5.31% of ETH’s circulating supply.Thursday’s net inflow added 66,350 ETH.Total cumulative inflows across spot ETFs have surpassed $12B since launch, according to Cointelegraph.Corporate Treasuries Accumulate ETHBeyond ETFs, institutions are growing direct ETH holdings.Corporate treasuries + long-term reserves now total 4.1M ETH ($17.66B), or 3.39% of supply.SharpLink Gaming purchased $667M in ETH on Tuesday, raising its holdings above 740,000 ETH ($3.2B).Bitmine Immersion Tech remains the largest corporate holder with 1.5M ETH.Community Debate: Centralization vs. ValueOn Reddit, ETH holders debated whether growing ETF and treasury ownership benefits the ecosystem.Pro side: Reduces circulating supply, supports staking, boosts price and DeFi utility.Con side: Concentrates ETH in centralized entities, reducing decentralization — a core Ethereum value.The rebound in ETH ETF inflows highlights renewed confidence in Ethereum’s institutional adoption. Key factors to watch:Whether inflows sustain into September.Staking participation from ETFs and treasuries.Ethereum price action around $4,279 amid macro risk sentiment.