Originally published on: November 30, 2024
Ether exchange-traded funds (ETFs) in the US made headlines on November 29 as they hit a new high for daily inflows. Farsidedata reported that a whopping $332.9 million flowed into nine spot Ether ETFs, surpassing the previous record by $37.4 million.
Leading the pack was BlackRock, responsible for $250.4 million of the total inflows on that day. This surge in ETF investments marked a significant milestone for BlackRock’s iShares Ethereum Trust (ETHA), which has now accumulated over $2 billion in inflows since its launch on July 23.
Crypto enthusiasts and experts were quick to point out that Ether ETF inflows surpassed those of Bitcoin ETFs on the same day. This shift is seen as a signal that Wall Street is embracing the “alt rotation.”
Amidst the excitement, crypto trader Pentoshi noted, “Now we have early signs of this happening in ETH, as the flows begin to finally pick up, and sellers begin to get absorbed. It only takes time.”
This surge in Ether ETF investments signals a growing interest in alternative cryptocurrencies and decentralized finance (DeFi). As Ether continues to perform strongly, investors are turning their attention towards diversifying their digital asset portfolios.
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