ETH ETFs Gain Momentum, BlackRock Sees Inflows of $30.7M

On Monday, Ethereum spot exchange-traded funds (ETFs) experienced momentum, recording a total net inflow of $51 million, according to data from Sosovalue. This marked the 16th consecutive day of net inflows, showing increased investor interest in Ethereum-based investment products. BlackRock’s Ethereum spot ETF trading under the ticker “ETHA” led the pack with the largest single-day net inflow of $30.7 million, highlighting institutional confidence in the asset. On December 16, the total net inflow of Ethereum spot ETFs was $51.1256 million, and the net inflow continued for 16 days. The Ethereum spot ETF with the largest net inflow in a single day yesterday was BlackRock ETF ETHA, with a net inflow of $30.7235 million in a single day.… pic.twitter.com/H0PpxbLNxS — Wu Blockchain (@WuBlockchain) December 17, 2024 Massive ETH ETF Boom Last week, between December 9 and 13, Ethereum spot ETFs saw record-breaking inflows of $855 million, according to data from Sosovalue. Ethereum price pushed above $4,100 for the first time this year on Monday, as bullish sentiment rose following Bitcoin’s renewed push to fresh record levels above $107,000. There is optimism that the US will establish some sort of strategic Bitcoin reserve in 2025 under the incoming Trump administration is the main talking point right now. Of course, this is helping to lift the entire crypto market, not just Bitcoin. But Ethereum also benefits from highly bullish narratives of its own. The introduction of spot ETFs has provided investors with a regulated and accessible avenue to gain exposure to Ethereum, contributing to the sustained inflows seen over the past few weeks. BlackRock’s leading position in net inflows on December 16 demonstrates the growing role of major asset managers in shaping the crypto investment landscape. According to research by Blockhead, ETF inflows continue their two-week streak, with Bitcoin seeing $637 million and Ethereum attracting $51 million in fresh support. This strong institutional backing is a key driver behind the market’s ability to push past previous all-time highs. “On-chain data reveals that large players, or whales, are gaining more control over both the Bitcoin and Ethereum markets. In particular, 104 Ethereum whales now control 57.35% of the total ETH supply, suggesting robust confidence in Ethereum’s future performance as transaction volumes and network fees rise,” said the Blockhead in a research note. The post ETH ETFs Gain Momentum, BlackRock Sees Inflows of $30.7M appeared first on Cryptonews .