Originally published on: December 06, 2024
Investors are pouring a record-breaking $432 million into Ether exchange-traded funds (ETFs) in the United States amid nine consecutive days of positive flows for the digital currency.
On December 5, spot Ether ETFs witnessed the largest single-day inflow in history, totaling $431.5 million, according to preliminary data from Farside Investors and Tree News. This surge marks a significant milestone since the funds launched on July 23, surpassing the previous record of $333 million on November 29. Over the past two weeks, these ETFs have accumulated more than $1.3 billion in total inflows.
The BlackRock iShares Ethereum Trust led the way with a record $295.7 million inflow on that day, bringing its total to $2.3 billion. Fidelity’s Ethereum Fund also saw substantial inflows of $113.6 million, while Grayscale’s Ethereum Mini Trust and Bitwise Ethereum ETF recorded $30.7 million and $6.6 million in inflows, respectively.
In comparison, spot Bitcoin ETFs in the US received a net inflow of $747.8 million on December 5, with the BlackRock iShares Bitcoin Trust contributing the majority of the inflow at $751.6 million. Grayscale’s Bitcoin Trust, on the other hand, experienced an outflow of $148.8 million.
The surging inflows into Ether ETFs coincide with a 16% increase in spot ETH prices over the past two weeks, reaching an eight-month high of $3,946 on December 5. Analysts predict that Ether’s performance against Bitcoin, reflected in the ETH/BTC ratio, is poised to rise further in the coming months.
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