Ethereum ETFs in the U.S. See Record Daily Inflows Amid Price Rally
U.S.-based spot Ethereum ETFs had a record-breaking day with high daily inflows as the price rally for Ethereum continues. On Friday, these ETFs saw the biggest single-day increase since trading began in July, adding almost $333 million in value after the market closed for the Thanksgiving holiday.
Among the funds, BlackRock’s ETHA and Fidelity’s FETH led the gains, with ETHA alone adding over $250 million in value. Grayscale’s ETH fund also saw a substantial increase of $3.4 million. The total value of these ETFs now exceeds $11 billion, with a significant portion held in funds managed by Grayscale.
This surge in inflows comes as Ethereum’s price has soared by nearly 40% over the past month, currently sitting just below $3,700. The funds have now reached their highest net asset value to date, surpassing $10 billion.
Additionally, Ethereum has regained dominance in hosting the stablecoin USDT, surpassing Tron for the first time since 2022. This increase in Ethereum’s value has also contributed to record-high inflows for U.S.-based spot Bitcoin ETFs.
Overall, it’s been a bullish period for both Ethereum and Bitcoin ETFs, with investors showing significant interest and confidence in these assets. The future looks promising for cryptocurrency enthusiasts as these ETFs continue to see strong performance and investor support.
