Ethereum ETFs Show Robust Growth in the U.S. Market
The landscape of US-based spot Ethereum exchange-traded funds (ETFs) has experienced a significant upswing recently. Following a phase marked by notable outflows, these crypto investment products have once again captured the attention of investors across the United States. This renewed interest has culminated in Ethereum ETFs concluding the month of November with their most impressive 30-day performance since their inception. Concurrently, Ethereum’s market value has surged, breaking past the $3,500 threshold for the first time since July 2024.
Ethereum ETFs Surpass Bitcoin ETFs in Daily Performance
According to recent insights from SoSoValue, US-based spot Ethereum ETFs achieved a remarkable net inflow of $333 million on Friday, November 29. This unprecedented single-day performance surpassed the previous record of $295 million, set on November 11. Notably, BlackRock’s ETH ETF, designated by the ticker ETHA, was the primary beneficiary, drawing in $250 million on that day. Fidelity’s Ethereum Fund, under the ticker FETH, followed with an inflow of nearly $80 million, rounding off a strong week.
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Even Grayscale’s Ethereum Mini Trust, represented by the ticker ETH, recorded a daily inflow of $3.39 million on Friday. In contrast, other spot Ethereum ETFs in the U.S. showed no significant capital movement over the same period. This momentum marks the fifth consecutive day of net inflows into Ethereum funds, which began the week with a modest $2.83 million on Monday, November 25.
As the week progressed, the inflows strengthened, with Ethereum ETFs accumulating $40.6 million and $90.1 million on Tuesday and Wednesday, respectively. In total, these inflows amounted to $466 million by the week’s end, just shy of the $515 million record. Notably, this single-day achievement marked the first instance of Ethereum ETFs outperforming their Bitcoin counterparts, which recorded a total net inflow of $320 million.
Ethereum Price Dynamics
At present, Ethereum is valued around $3,700, marking a 3% increase over the past 24 hours. This performance is even more impressive on the weekly chart, with CoinGecko reporting nearly an 8% rise in the past seven days for the world’s second-largest cryptocurrency.
