Ethereum ETFs Surge with Record Inflows Amid Bitcoin Price Volatility

Highlights

• Ethereum ETFs attracted a record single-day inflow of $428.5 million.
• Total Ethereum ETF inflows have now exceeded $1 billion since their debut in July.
• Bitcoin ETFs also hit a new milestone, with combined holdings surpassing the estimated stash of Bitcoin's creator, Satoshi Nakamoto.

Ethereum exchange-traded funds (ETFs) experienced their most significant net inflows in a single day recently, coinciding with Bitcoin's volatile price movement above and below the $100,000 mark.

As the native cryptocurrency of the Ethereum blockchain, Ether (ETH) ranks as the second-largest digital asset by market capitalization, making its price trends a key indicator of the broader crypto market's momentum.

According to Farside Investors, Ethereum ETFs saw net inflows totaling $428.5 million on their best day yet, pushing cumulative inflows beyond $1 billion since their launch in July.

Ethereum ETF Popularity Grows Post-U.S. Election

While Ethereum ETFs have historically trailed behind Bitcoin spot ETFs launched earlier this year, investor interest has surged in recent weeks.

This uptick aligns closely with the outcome of the 2024 U.S. presidential election, where the president-elect’s anticipated pro-crypto regulatory stance has bolstered market confidence.

Prior to November 5, Ethereum ETFs experienced outflows totaling over $500 million, primarily from the Grayscale Ethereum Trust (ETHE). However, since November 6, investors have injected a net $1.88 billion into these funds, with BlackRock's iShares Ethereum Trust (ETHA) capturing $1.2 billion of that inflow.

Nate Geraci, President of The ETF Store, notes that these inflow figures are impressive considering ETHE’s $3.5 billion outflows and the current lack of staking options for ETF holders.

Bitcoin ETFs Reach New Heights Amid Price Fluctuations

Despite Bitcoin’s price swinging dramatically between $92,000 and $101,000, Bitcoin ETFs achieved a significant milestone.

Bloomberg’s senior ETF analyst Eric Balchunas reported that the combined holdings across all spot Bitcoin ETFs have now exceeded the estimated Bitcoin holdings of its mysterious creator, Satoshi Nakamoto, though it remains uncertain if Nakamoto still controls these assets.

On Friday, Ether’s price surpassed $4,000, while Bitcoin remained just below the $100,000 threshold.

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