U.S. Ethereum ETFs See Record Daily Inflows Amid Price Rally
U.S.-based spot Ethereum ETFs experienced a record-breaking day recently, with the highest single-day inflows since trading began in July. On Friday, these ETFs added nearly $333 million in value following the Thanksgiving holiday. The standout performers were BlackRock’s ETHA, which saw over $250 million in inflows, and Fidelity’s FETH, with about $79 million.
This surge in inflows comes on the heels of Ethereum’s price increase of almost 40% over the past month, currently hovering below $3,700. With this price rally, the total value of the funds now exceeds $11 billion, with Grayscale holding over half of that amount.
It’s worth noting that this record-breaking day follows a previous high of $295.5 million in inflows on November 10. Before this recent spike, the highest single-day inflows were recorded on the funds’ first day of trading in July, where they surpassed $106.8 million.
In addition to this milestone, Ethereum has also regained dominance in hosting USDT, surpassing Tron for the first time since 2022. This achievement reflects a significant increase in the supply of the popular stablecoin on the Ethereum network.
It’s important to stay informed about these market developments, especially as U.S.-based spot Bitcoin ETFs have also seen record high inflows recently. It’s a good time to keep an eye on these trends and understand how they may impact the broader crypto landscape.
