Ethereum exchange-traded funds (ETFs) in the US are having a fantastic run!
Ten Days of Gains!
For ten days straight, these ETFs have seen money pouring in – the longest winning streak since they launched in July 2024. This positive trend is likely linked to the recent US elections and overall investor optimism. December is looking bright for these funds after a relatively slow start.
Big Numbers
Last Friday alone saw a massive $83.3 million inflow! This brings the total for the week to over $836.69 million – a record high. That’s way up from the previous record of $515 million in mid-November. Friday also saw the fourth-highest trading volume ever, with $992.52 million changing hands.
Who’s Winning?
Fidelity’s Ethereum Fund (FETH) led the charge with almost $48 million in inflows on Friday. BlackRock’s iShares Ethereum Trust (ETHA) wasn’t far behind, adding over $34 million. Other winners included Grayscale’s Ethereum Mini Trust (ETH) and Bitwise’s Ethereum ETF (ETHW). However, not all ETFs saw gains; Grayscale’s Ethereum Trust (ETHE) and 21Shares’ Core Ethereum ETF (CETH) experienced outflows.
Ethereum Price Soars
The good news for Ethereum ETFs is also reflected in the price of ETH itself. It recently broke the $4,000 mark for the first time since March 2024. While it’s slightly down 0.4% in the last 24 hours, it’s still up over 10% in the past week.
