Spot Ethereum ETFs See $515 Million Record Weekly Inflows – Details
November 17 2024 - 2:00PM
NEWSBTC
The US-based spot Ethereum ETFs have continued to experience a high
market interest following Donald Trump’s emergence as the next US
President. As institutional investors continue to position
themselves for a massive crypto bull run, these Ethereum ETFs have
now registered over $500 million in weekly inflows for the first
time since their trading debut in July. Meanwhile, the spot Bitcoin
ETFs maintain a splendid performance, closing another week with
over $1 billion in inflows. Related Reading: Ethereum ETFs Record
Largest Inflows Since August Amid ETH’s Rally To $2,900 Spot
Ethereum ETFs Notch Up $515M Inflows To Extend 3-Week Streak
According to data from ETF aggregator site SoSoValue, the spot
Ethereum ETFs attracted $515.17 million between November 9-November
15 to establish a new record weekly inflows, as they achieved a
3-week positive inflow streak for the first time ever. During
this period, these funds also registered their largest daily
inflows ever, recording $295.48 million in investments on November
11. Of the total market gains in the specified trading week,
$287.06 million were directed to BlackRock’s ETHA, allowing the
billion-dollar ETF to strengthen its market grip with $1.72
billion in cumulative net inflow. Meanwhile, Fidelity’s FETH
remained a strong market favorite with $197.75 million in inflows,
as its net assets climbed to $764.68 million. Grayscale’s ETH
and Bitwise’s ETHW also accounted for weighty investments valued at
$78.19 million and $45.54 million, respectively. Other ETFs
such as VanEck’s ETHV, Invesco’s QETH, and 21 Shares’ CETH
experienced some significant inflows but of no more than $3.5
million. With no surprise, Grayscale’s ETHE continues to bleed
with $101.02 million recorded in outflows, albeit retains its
position as the largest Ethereum ETF with $4.74 billion in
AUM. In general, the total net assets of the spot Ethereum
ETFs also decreased by 1.2% to $9.15 billion representing 2.46% of
the Ethereum market cap. Related Reading: Spot Bitcoin ETFs Draw
Over $2 Billion Inflows As Ethereum ETFs Turn Green Again – Details
Spot Bitcoin ETFs Remain Buoyant With $1.67B Inflows In other news,
the spot Bitcoin ETFs market recorded $1.67 billion in the past
week to continue its stunning performance of Q4 2024. While
the Bitcoin ETFs saw notable daily outflows of over $770 million at
the week’s end, earlier weighted inflows of $2.43 billion proved
quite significant in maintaining the market’s green momentum.
BlackRock’s IBIT, which ranks as the market leader and the
best-performing crypto spot ETF, now boasts over $29.28 billion in
inflows and $42.89 billion in net assets. Meanwhile, the
total net assets of the spot Bitcoin ETF returned to above $95
billion, capturing 5.27% of the Bitcoin market. At the time of
writing, Bitcoin trades at $90,175 with Ethereum hovering around
$3,097. Featured image from FXTM, chart from Tradingview.com
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