Ethereum ETF Inflows Push ETH to New Heights: $83.8 Million Added in One Day
Ethereum ETF – U.S.-based spot ether exchange-traded funds (ETFs) have reached a significant milestone, recording ten consecutive days of net positive inflows, marking the longest streak since the launch of the nine U.S.-listed funds in July 2024.
On Friday, these funds collectively added $83.8 million in value, led by Fidelity’s FETH, which accounted for over half of the net inflows with $47.9 million. The total volume of trades on Friday was nearly $992 million, making it the fourth-highest volume day since the funds’ debut. The highest trading volume occurred last Wednesday when nearly $1.1 billion worth of ether (ETH) changed hands.
Ethereum ETFs Record Highest Weekly Inflow
These ETFs also recorded their highest weekly inflow to date, with $836.7 million added last week, a 62% increase over the previous high of $515.2 million between Nov. 15-22. Notably, BlackRock’s ETHA fund contributed significantly, adding approximately $520 million in a single week. Fidelity’s FETH also played a major role, with nearly $276 million in net inflows.
Ethereum Price Surge Coincides with ETF Inflows
The timing of these inflows is aligned with a rally in Ethereum’s price, which recently surpassed the $4,000 mark, reflecting a 3% rise over the past 24 hours, as reported by The Block’s Ethereum Price Page. In November, Ethereum saw its highest monthly on-chain volume since December 2021, signaling increasing interest in both ETH and the NFT market, with notable price increases in several top NFT projects.
Bitcoin ETFs Also Experience Strong Inflows
Meanwhile, U.S.-based spot Bitcoin ETFs have also seen positive inflows over the past seven trading days, with $3 billion in net inflows since Nov. 27. These strong inflows have contributed to the growing assets under management, recently surpassing the holdings of Satoshi Nakamoto, Bitcoin’s creator.
As the crypto market continues to demonstrate resilience, analysts remain optimistic about the outlook for both Ethereum (ETH) and Bitcoin (BTC).
Disclaimer: This website’s content is for informational purposes only and does not constitute financial advice, with all cryptocurrency purchases carrying inherent risks.
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