Ethereum exchange-traded funds (ETFs) are having a moment. Following Trump’s presidential win, institutional investors are piling into these funds, anticipating a big cryptocurrency boom.
Record-Breaking Week for Ethereum ETFs
Last week was huge for Ethereum ETFs. They saw a record-breaking $515 million in inflows, marking their best week ever since launching in July. This continues a three-week winning streak of positive inflows. The biggest single day saw a whopping $295 million invested on November 11th.
BlackRock’s ETHA ETF was the star performer, attracting $287 million and bringing its total assets to over $1.7 billion. Fidelity’s FETH also did very well, with $197 million in inflows. Other ETFs like Grayscale’s ETH and Bitwise’s ETHW also saw significant investments. However, Grayscale’s ETHE saw outflows of $101 million, despite remaining the largest Ethereum ETF.
Overall, the total assets of all spot Ethereum ETFs reached $9.15 billion, representing 2.46% of the total Ethereum market cap.
Bitcoin ETFs Also Doing Great
Bitcoin ETFs also had a fantastic week, raking in a massive $1.67 billion. While there were some significant outflows towards the end of the week, the earlier inflows were strong enough to keep the market positive. BlackRock’s IBIT ETF continues to lead the pack, with over $29 billion in inflows and $42.9 billion in total assets. Total Bitcoin ETF assets topped $95 billion, representing 5.27% of the Bitcoin market.
Market Prices at a Glance
At the time of writing, Bitcoin was trading at around $90,175, while Ethereum was hovering around $3,097.
