Ethereum ETFs See Record-Breaking Inflows, Surpassing Bitcoin Funds

Published:

Ethereum exchange-traded funds (ETFs) in the U.S. reached a major milestone on November 29, 2024, as daily inflows hit $332.9 million—the highest since their launch. For the first time, Ethereum ETFs outpaced Bitcoin ETFs in daily investments, leading by approximately $2.9 million.

BlackRock’s Ethereum Trust Dominates Market Activity

Driving the surge was BlackRock’s iShares Ethereum Trust, which alone accounted for $250.4 million of the day’s total inflows. This influx reflects growing institutional interest in Ethereum, particularly as its price climbed to $3,702, signaling strong market performance.

Also Read: Bitwise Registers for Solana ETF in Delaware

Ethereum Outshines Bitcoin in ETF Inflows

While Bitcoin ETFs have seen fluctuating interest, they experienced over $103 million in inflows on November 27 after a week of outflows. However, Ethereum’s record-setting day indicates a notable shift, with more investors diversifying beyond Bitcoin to explore Ethereum’s expanding ecosystem.

The increasing investment in Ethereum ETFs highlights the cryptocurrency’s rising status in the digital asset market. As institutional investors recognize Ethereum’s broad use cases and potential, this trend may lead to a more balanced focus between Bitcoin and Ethereum in the ETF space. The record-breaking inflows into Ethereum ETFs mark a pivotal moment, showcasing their growing appeal to investors seeking diversified crypto exposure.

Anish Khalifa
Anish Khalifa
Hi there! I'm Anish Khalifa, a passionate cryptocurrency content writer with a deep love for this ever-evolving industry. I've been writing about crypto for over 3 years now and I've been captivated by its potential to revolutionize the financial world.

Related News

Recent