Ethereum ETFs are making waves! The crypto world is buzzing as BlackRock's ETHA leads the pack with a whopping $131 million in Ethereum ETF inflows. Close on its heels, Bitwise and VanEck are also grabbing a slice of the action.
The whole scene kicked into high gear following Donald Trump’s recent election win, with November 12 marking a record-breaking day. Spot Ether exchange-traded funds (ETFs) saw nearly $136 million in net inflows, marking an impressive five-day streak of positive momentum.
Now, the total net asset value for these Ethereum ETFs is a staggering $9.67 billion. BlackRock's iShares Ethereum Trust ETF (ETHA) took the lion’s share of the daily inflows, followed by Bitwise's ETHW with almost $17 million. Grayscale and VanEck weren't far behind, pulling in $12.71 million and $6.02 million respectively. Meanwhile, 21Shares’ CETH made a modest splash with a $1.97 million inflow. Some, like Fidelity’s FETH and Invesco’s QETH, decided to sit this one out with no inflows recorded.
Nate Geraci from ETF Store highlighted the triumph of spot Ethereum ETFs as they’ve now seen net positive flows since their debut, a notable achievement after having to bounce back from $3.1 billion in outflows from Grayscale’s Ethereum Trust (ETHE). BlackRock's ETHA has even made it into the top six ETF launches of 2024!
This Ethereum ETF surge mirrors a broader rally in the crypto market. Bitcoin hit new highs after Trump’s victory, and while things have cooled off a bit, Ether's price has still soared over 20% in the past week, now trading above $3,175.
Bitcoin ETFs also had a stellar day, raking in over $817 million in net inflows. BlackRock's IBIT led the charge with $778.3 million, bringing its weekly total to a hefty $1.93 billion. Fidelity's FBTC and Grayscale's Mini Bitcoin Trust chipped in with significant numbers too.
However, not everyone was celebrating; Grayscale's GBTC saw a $17.8 million outflow, and Ark and 21Shares’ ARKB experienced a $5.4 million dip. But hey, in the ever-exciting world of crypto, there are always ups and downs. Stay tuned for more thrilling twists!
