As a seasoned analyst with a decade of experience in the financial markets, I find it intriguing to witness the rapid growth and evolution of the cryptocurrency sector. The recent inflows into United States spot Ether exchange-traded funds (ETFs) are a testament to this burgeoning industry’s potential. With my background in traditional finance, I must admit that I was initially skeptical about the longevity and viability of cryptocurrencies. However, the resilience and adaptability of Ether, in particular, has caught my attention.
On a record-breaking day for inflows, U.S.-based Ether exchange-traded funds (ETFs) are seeing the highest volume yet, as the cryptocurrency market experiences a surge following Donald Trump’s presidential win.
On November 11th, I experienced a significant milestone as an analyst when the ETFs I was monitoring set a new record for inflows. The inflow amounted to $294.9 million, shattering the previous record of $106.6 million that it had established on its launch day back in July.
In a recent report by Farside Investors and initial findings from Tree News, it was noted that the Fidelity Ethereum Fund (FETH) recorded a significant milestone with a massive inflow of $115.5 million, making it a record for the fund. The BlackRock-issued iShares Ethereum Trust ETF (ETHA) followed closely behind with an inflow of $100.5 million.
The Grayscale Ethereum Mini Trust ETF (ETH) was third with an investment of $63.3 million, and the Bitwise Ethereum ETF (ETHW) had $15.6 million invested. No other U.S. spot Ether ETFs received any inflow.
On November 11, Ether (ETH) surged by approximately 8.4%, reaching a 14-week peak of $3,384. This increase corresponds with the broader market’s nearly 10% price growth over the same period, according to CoinGecko data.
Despite trailing behind Bitcoin (BTC), Solana (SOL), and other rivals that have shown superior performance during this bull market, Ether has been playing a game of catch-up, according to an analysis by Rachael Lucas at BTC Markets, as she stated in a communication to CryptoMoon.
Lucas mentioned that Ethereum has been lagging behind for much of this period, but now it seems to be gaining traction. He highlighted the increase in popularity of Ether ETFs, following a more gradual initial phase.
I, Lucas, am confident that the potential returns from Ether staking, which are currently unavailable via U.S. spot Ether Exchange-Traded Funds (ETFs), will grow increasingly attractive to traditional investors. As they delve deeper into Ether’s bullish arguments, I foresee these investors finding the allure of Ether staking returns hard to resist.
“[There’s] no reason to believe ETH won’t run well.”
According to CK Zheng, one of the founders at ZX Squared Capital, it is expected that Ether could potentially gain advantages under a pro-cryptocurrency administration led by Donald Trump in the near future, as reported by CryptoMoon.
“ETH and SOL will perform well in the next few months if the new Trump administration actively promotes blockchain technology and speed up the digitalization in the financial industry.”
Excluding the Grayscale Ethereum Trust, US-traded Ether ETFs have attracted approximately $3.1 billion in investments since their launch, while the Grayscale Ethereum Trust itself has experienced outflows totaling $3.125 billion.
Since their launch on July 23, BlackRock’s ETHA has seen a staggering inflow of more than $1.5 billion, making it the leading choice among investors in this product category.
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2024-11-12 08:55