Spot Ethereum ETFs Surge to Record Inflows, Outpacing Bitcoin for the First Time
On November 29, spot Ether exchange-traded funds (ETFs) saw a significant surge in daily inflows, setting a new record with $332.9 million entering the market.
This marked an increase of $37.4 million over the previous record of $295.5 million set earlier in the month. The bulk of these inflows came from BlackRock, which contributed a staggering $250.4 million to the total, highlighting the growing interest in Ethereum . Since launching in July, BlackRock’s iShares Ethereum Trust (ETHA) has accumulated over $2 billion in inflows, solidifying its position in the market.
At the time of the influx, ETH’s price was trading around $3,662, reflecting a 1.88% rise from the previous day. Observing the trend, crypto trader Pentoshi noted that the uptick in Ethereum ETF inflows suggests that investor sentiment is shifting, with sellers being absorbed as demand picks up.
This increase in inflows for ETH ETFs outpaced those of Bitcoin ETFs, which brought in $320 million on the same day, raising speculation that institutional interest is now turning toward Ethereum as the next big opportunity.
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Stronger Dollar Could Stall Bitcoin’s $100,000 Surge, Experts WarnThis marks the first time that ETH ETFs have outperformed Bitcoin ETFs in terms of inflows on days when both saw positive movement. In the lead-up to this milestone, Ethereum ETFs had shown more consistent inflows, while Bitcoin ETFs struggled with some outflow days.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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