Spot Ethereum ETFs See $515 Million Record Weekly Inflows – Details

by

As a seasoned crypto investor with a knack for spotting trends and making smart investments, I must admit that the current market surge is nothing short of exhilarating. The unprecedented interest in US-based Ethereum ETFs following Trump’s election as President has been truly astounding. With weekly inflows exceeding $500 million for the first time since their debut, it’s clear that institutional investors are positioning themselves for a massive crypto bull run.

Interests in US-based Ethereum Exchange Traded Funds (ETFs) have stayed elevated ever since Donald Trump became the next U.S. President, reflecting a growing appetite among institutional investors for a potential massive cryptocurrency bull market. For the initial time since their launch in July, these Ethereum ETFs have recorded more than $500 million in weekly investments. Meanwhile, Bitcoin ETFs are also performing well, recording over $1 billion in weekly inflows during this period.

Spot Ethereum ETFs Notch Up $515M Inflows To Extend 3-Week Streak

Based on figures from ETF aggregator SoSoValue, Ethereum spot ETFs garnered a record-breaking weekly inflow of $515.17 million from November 9 to November 15. This was the first time they managed a three-week streak of positive inflows. Moreover, during this period, these funds recorded their largest single-day investment of $295.48 million on November 11.

During the given trading week, a substantial portion of the overall market growth, amounting to approximately $287.06 million, was channeled towards BlackRock’s ETHA. This significant influx enabled our billion-dollar ETF to fortify its market position, accumulating a total net inflow of around $1.72 billion over the period.

As a researcher, I find myself observing the market trends, and it’s clear that Fidelity’s FETH continues to be a preferred choice among investors, with an impressive inflow of $197.75 million, boosting its net assets to a substantial $764.68 million. Additionally, Grayscale’s ETH and Bitwise’s ETHW also attracted significant investments worth $78.19 million and $45.54 million respectively, demonstrating the ongoing interest in these sectors.

Other exchange-traded funds (ETFs) like VanEck’s ETHV, Invesco’s QETH, and 21 Shares’ CETH saw moderate increases in investments totaling up to $3.5 million. On the other hand, Grayscale’s ETHE has seen substantial withdrawals amounting to $101.02 million, despite maintaining its status as the largest Ethereum ETF with an assets under management (AUM) of $4.74 billion.

As an analyst, I observed a 1.2% decrease in the combined net value of all actively traded Ethereum Exchange-Traded Funds (ETFs), bringing their total worth to approximately $9.15 billion. This reduction equates to roughly 2.46% of the current market capitalization of Ethereum.

Spot Bitcoin ETFs Remain Buoyant With $1.67B Inflows

To provide an update, the market for Bitcoin Exchange-Traded Funds (ETFs) registered a remarkable weekly investment of approximately $1.67 billion, further boosting its impressive Q4 2024 performance. Despite a substantial daily outflow exceeding $770 million towards the end of the week, the early inflows totaling $2.43 billion played a crucial role in sustaining the market’s positive trend.

BlackRock’s IBIT (Investment-Grade Bond Trust), currently leading and outperforming other crypto spot ETFs, has amassed a staggering $29.28 billion in investments and manages a total of $42.89 billion in assets. On the other hand, the overall net assets for all Bitcoin spot ETFs have surpassed $95 billion once more, representing approximately 5.27% of the entire Bitcoin market.

At the time of writing, Bitcoin trades at $90,175 with Ethereum hovering around $3,097.

Read More

2024-11-17 23:10