CoinInsight360.com logo CoinInsight360.com logo
A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
coinpedia 2024-11-30 09:00:53

Spot Ether ETFs Smash Records, Overtaking Bitcoin’s Inflows

The post Spot Ether ETFs Smash Records, Overtaking Bitcoin’s Inflows appeared first on Coinpedia Fintech News Investors are shifting gears, pouring record funds into spot Ether ETFs and showing increased confidence in Ethereum’s potential. On November 29, spot Ether ETFs brought in a jaw-dropping $332.92 million in daily inflows, blowing past Bitcoin ETFs for the first time. It wasn’t even close. This milestone shows how Ether is not just a “second-best” crypto anymore—it’s carving out its own story in the world of ETFs. Ethereum Steps Up Big Time So, here’s the kicker: only three of the nine active Ether ETFs were responsible for this massive inflow. Crazy, right? Leading the charge was BlackRock’s iShares Ethereum Trust (ETHA), which brought in roughly $250 million—talk about stealing the show. Since launching in July, ETHA has stacked up over $2 billion, solidifying its place as a favorite among investors. Meanwhile, Fidelity’s FETH added $79 million, and Grayscale chipped in $3.4 million. Not huge compared to ETHA, but still solid contributions. On the price side, Ethereum is holding steady at $3,695. That’s a 3.79% gain in the last 24 hours, with trading volume also up over 11%. Sure, it’s still about 24% below its 2021 all-time high of $4,891, but there’s a sense that the momentum could push it higher—if it can crack that $3,730 resistance level. Bitcoin Takes a Back Seat For once, Bitcoin wasn’t the main attraction. Spot Bitcoin ETFs saw $320 million in inflows on the same day, which is impressive but not enough to outshine Ether’s big win. And here’s the interesting part: only six out of twelve Bitcoin ETFs actually got inflows. Maybe the tide is turning? This isn’t just about one day, either. Over the past week, Ether ETFs have been quietly dominating. Between November 22 and 27, they raked in nearly $225 million, while Bitcoin ETFs only managed $35 million, mostly because of a big outflow on November 25. What’s Next So, what does this mean? Well, it’s clear investors are warming up to Ethereum in a big way. Whether it’s the recent price action or the buzz around its growing use cases, Ether seems to be stepping out of Bitcoin’s shadow. And with giants like BlackRock leading the charge, this could just be the beginning.

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.