Spot Ether ETFs See Record $428 M in Inflows Amid 9-Day Winning Streak
2024-12-06

Spot Ether exchange-traded funds (ETFs) in the United States recorded their largest single-day inflow on December 5.
According to , the nine spot Ether ETFs collectively saw $431.5 million in inflows, marking the ninth consecutive trading day of net positive flows for the surging cryptocurrency.
This inflow surge surpassed the previous record of $333 million set on November 29, highlighting growing investor confidence in Ether ETFs.Ethereum Funds Attract $1.3 Billion in Past Two Weeks
Over the past two weeks, the funds have attracted more than $1.3 billion in inflows, cementing Ether’s position as a rallying asset in the crypto market.
The influx has pushed total net inflows past $1 billion, a recovery partly attributed to the stabilization of Grayscale’s Ethereum Trust (ETHE), which had previously been under pressure.
Leading the charge was BlackRock’s iShares Ethereum Trust (ETHA), which reported a record-breaking $295.7 million in inflows for the day, bringing its cumulative total to $2.3 billion.
Other prominent players also saw significant contributions. Fidelity’s Ethereum Fund (FETH) added $113.6 million, while Grayscale’s Ethereum Mini Trust (ETH) and Bitwise’s Ethereum ETF (ETHW) recorded inflows of $30.7 million and $6.6 million, respectively.
However, Grayscale’s larger Ethereum Trust (ETHE) registered an outflow of $15.1 million, with no notable activity from the remaining funds.
In comparison, spot Bitcoin ETFs in the U.S. also reported strong momentum, with 11 funds collectively netting $747.8 million in inflows on December 5.
BlackRock’s iShares Bitcoin Trust (IBIT) dominated, contributing $751.6 million, offsetting the $148.8 million outflow from Grayscale’s Bitcoin Trust (GBTC).
The BlackRock Bitcoin ETF has now amassed nearly $34 billion in inflows since its launch.
Ether’s performance has been buoyed by a 16% price increase over the past two weeks, reaching an eight-month high of $3,946 on December 5, according to CoinGecko.
Analysts suggest Ether’s strength against Bitcoin, as measured by the ETH/BTC ratio, is poised to rise further in the coming months, having already increased 14.5% in the past month to reach 0.04.
Net inflow of $430 million into the ETH ETFs todayThis is now the new biggest inflow day for the ETH ETFs The ticker is?— sassal.eth/acc 🦇🔊 (@sassal0x) Bitcoin Dominance Surges Back
On Thursday, Bitcoin surged to an all-time high of $104,000, pushing its market dominance up by 4.4% to 57%.
The resurgence challenges the narrative of an impending “altcoin season,” where alternative cryptocurrencies often outshine Bitcoin.
Bitcoin dominance had dropped to 54.7% on December 4, following a sharp decline from its November high of 61.8%.
However, Bitcoin’s explosive move to a six-figure valuation reversed the trend, catching the crypto market off guard.
Nevertheless, Bitcoin’s historic surge past the $100,000 milestone has captivated the cryptocurrency market, but Sergei Gorev, Head of Risk at YouHodler, remains cautious.
In a recent statement shared with Cryptonews.com, Gorev predicted that the price may see only moderate growth beyond this level before a significant correction takes hold.
“The cryptocurrency market is very fond of round numbers, and the price often unfolds in such cases.”
“Also note that monthly, quarterly, semi-annual, and annual futures and options contracts are expected to expire in two weeks,” he added.