Ethereum exchange-traded funds (ETFs) in the US are having a moment. After a bit of a slump, they’ve seen a huge surge in investor interest.
A Record-Breaking Week for Ethereum ETFs
Last Friday, November 29th, US-based spot Ethereum ETFs raked in a whopping $333 million – a single-day record! This beats their previous record of $295 million set earlier in November. This is also the first time Ethereum ETFs have outperformed Bitcoin ETFs in a single day.
Who’s Leading the Charge?
BlackRock’s ETH ETF (ETHA) was the big winner, attracting $250 million. Fidelity’s Ethereum Fund (FETH) wasn’t far behind, bringing in almost $80 million. Grayscale’s Ethereum Mini Trust (ETH) also saw a modest inflow of $3.39 million. Other Ethereum ETFs remained relatively unchanged.
This wasn’t just a one-off; it was the fifth consecutive day of net inflows for these funds. The week started slowly, but the money kept pouring in, totaling $466 million for the week – just shy of another record.
Ethereum Price Soars
This ETF frenzy seems to be linked to Ethereum’s price, which is currently around $3,700, up about 3% in the last 24 hours and nearly 8% over the past week.
In short, it’s been a fantastic week for Ethereum and its associated ETFs.
