Originally published on: November 13, 2024
The recent surge in United States-based spot Ether exchange-traded funds (ETFs) has led to a significant milestone as BlackRock’s fund experienced its second-largest net inflow since its launch in July, flipping the total flows to a net positive.
On November 12, the spot Ether ETFs collectively received $135.9 million in net inflows, following a record-breaking $295 million inflow the day before, according to data from Farside Investors. These consecutive inflow days propelled the total net flows for the nine funds to a positive $107.2 million for the first time since their introduction in July.
In comparison, Grayscale’s Ethereum Trust continued its streak of net outflows, losing $33.2 million, bringing its total net outflows to over $3.1 billion.
BlackRock’s iShares Ethereum Trust was the standout performer with its second-largest inflow of $131.4 million, only surpassed by its record $266.5 million inflow on July 23. ETF Store president Nate Geraci praised the BlackRock fund as a top-six ETF launch in 2024, having accumulated $1.67 billion in total inflows without experiencing a net outflow day.
In addition to BlackRock’s success, the Bitwise Ethereum ETF saw an inflow of $17 million, Grayscale’s Ethereum Mini Trust received $12.7 million, and minor inflows were reported for Ark 21Shares and VanEck’s funds.
The positive trend extended to Ether ETFs, with nearly $650 million entering the funds over the past five trading days. Geraci highlighted the growing interest in the intersection of crypto and ETFs as a key area of development in asset management, involving major asset managers, politicians, regulators, and stakeholders.
Amidst this positive momentum, Ether surged by 32% over the week, reaching over $3,400 on November 12 and pushing its market cap above $400 billion. Concurrently, spot Bitcoin ETFs also had a strong day, with an aggregate inflow of $817.5 million on November 12.
As the crypto market continues to evolve, the integration of ETFs and digital assets presents a compelling opportunity for investors and asset managers alike. Stay informed with critical insights and market updates by subscribing to our newsletter for expert analysis and trading strategies. Subscribe now and explore more articles like this to enhance your investment portfolio.
