Spot Ethereum ETF Sees Record Weekly Inflows of $515 Million – Details
US-based spot Ethereum ETFs have continued to experience strong market interest since Donald Trump emerged as the next US president. The Ethereum ETF has seen weekly inflows exceed $500 million for the first time since its trading debut in July, as institutional investors continue to rally behind the massive cryptocurrency bull market. Meanwhile, the spot Bitcoin ETF continues to perform well, ending another week with inflows of over $1 billion.
Spot Ethereum ETF extends for third straight week with $515 million inflows
The spot Ethereum ETF set a new record for weekly inflows, attracting $515.17 million between November 9 and November 15, marking its third consecutive week of inflows for the first time, according to data from ETF aggregator SoSoValue. . During this period, the fund recorded its largest single-day inflow ever, with investments of $295.48 million on November 11.
Of the total market gains in a given trading week, $287.06 million went to BlackRock’s ETHA, helping the $1 billion ETF solidify its market dominance with cumulative net inflows of $1.72 billion.
Meanwhile, Fidelity’s FETH remained the market’s favorite with inflows of $197.75 million as net assets rose to $764.68 million. Grayscale’s ETH and Bitwise’s ETHW also accounted for significant investments, amounting to $78.19 million and $45.54 million, respectively.
Other ETFs, such as VanEck’s ETHV, Invesco’s QETH, and 21 Shares’ CETH, saw significant inflows, but none exceeded $3.5 million. Not surprisingly, Grayscale’s ETHE continues to bleed, recording outflows of $101.02 million, despite maintaining its position as the largest Ethereum ETF with AUM of $4.74 billion.
In general, total net assets of spot Ethereum ETFs also decreased 1.2% to $9.15 billion, accounting for 2.46% of Ethereum market capitalization.
Related Read: Spot Bitcoin ETF Receives Over $2 Billion Inflows as Ethereum ETF Goes Green Again – Details
Spot Bitcoin ETF remains buoyant with $1.67 billion inflows
In other news, the spot Bitcoin ETF market hit $1.67 billion last week, continuing its stellar performance in the fourth quarter of 2024. The Bitcoin ETF saw notable daily outflows of over $770 million over the weekend, but its previous weighted inflows of $2.43 billion were significant. This is important to maintain the green momentum in the market.
Considered the market leader and best-performing cryptocurrency spot ETF, BlackRock’s IBIT currently boasts inflows of over $29.28 billion and net assets of over $42.89 billion. Meanwhile, the total net assets of spot Bitcoin ETFs returned to over $95 billion, accounting for 5.27% of the Bitcoin market.
As of this writing, Bitcoin is trading at $90,175 and Ethereum is trading around $3,097.
