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The Coin Rise 2024-12-06 11:25:43

Spot Ether ETFs See Record $431.5M Daily Inflow as Ethereum Surges

Spot Ether ETFs in the U.S. have experienced their most significant single-day inflow since their launch, marking a critical moment in Ethereum’s journey within traditional finance. On December 5, nine spot Ether ETFs collectively received an inflow of $431.5 million, according to data from Farside Investors and Tree News. This influx surpassed the previous record of $333 million set just a week earlier on November 29. Ether ETFs Hit Unprecedented Growth The inflows are part of a nine-day streak of positive momentum, with over $1.3 billion accumulated in the past two weeks. BlackRock’s iShares Ethereum Trust led the charge, drawing a staggering $295.7 million in a single day. The fund’s total inflow now sits at $2.3 billion, cementing its dominance in the market. Fidelity’s Ethereum Fund followed with $113.6 million, while smaller contributions came from Grayscale’s Ethereum Mini Trust ($30.7 million) and the Bitwise Ethereum ETF ($6.6 million). Grayscale’s Ethereum Trust, once a leader, faced an outflow of $15.1 million as the fund continues to lose market share to newer competitors. Bitcoin ETFs Maintain Momentum Spot Bitcoin ETFs also showed robust activity, recording a combined net inflow of $747.8 million on the same day. BlackRock’s iShares Bitcoin Trust accounted for a remarkable $751.6 million of this figure, counteracting outflows of $148.8 million from Grayscale’s Bitcoin Trust. Over the past five trading days, BlackRock’s Bitcoin ETF has accumulated nearly $2.5 billion, pushing its total inflow since launch to an eye-popping $34 billion. Ether ETFs’ growing popularity coincides with Ethereum’s recent market rally . Spot ETH prices have risen 16% in the last two weeks, reaching an eight-month high of $3,946 on December 5, per CoinGecko data. Analysts suggest that Ethereum’s strength relative to Bitcoin, as measured by the ETH/BTC ratio , could continue to climb over the next six to 12 months. The ratio currently stands at 0.04, a 14.5% increase in just one month. With institutional interest at an all-time high and Ethereum outperforming Bitcoin in recent weeks, these developments underscore growing confidence in the second-largest cryptocurrency. The post Spot Ether ETFs See Record $431.5M Daily Inflow as Ethereum Surges appeared first on TheCoinrise.com .

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