As a seasoned analyst with decades of experience in the financial markets, I’ve seen my fair share of market trends and shifts. However, the recent surge in Ether exchange-traded funds (ETFs) in the United States is nothing short of remarkable. The $431.5 million inflow into Ether ETFs on Dec. 5 is a testament to the growing acceptance and adoption of cryptocurrencies by mainstream investors.
In the U.S., Ether exchange-traded funds (ETFs) experienced their single biggest day of investment influx ever, marking the ninth straight day of such positive trends for the surging cryptocurrency market.
On December 5th, as per initial data from Farside Investors and Tree News, a combined sum of approximately $431.5 million flowed into Ether Exchange Traded Funds (ETFs) with a nine-spot focus in the U.S. market.
Since its launch on July 23, this is the highest single-day investment in the funds, surpassing the previous record of $333 million set on November 29. The Ether (ETH) ETFs have been experiencing a daily net increase since November 21 and have amassed over $1.3 billion in the past two weeks.
A large single-day influx has pushed the cumulative inflow past $1 billion, a number that’s continuously climbing as Grayscale’s Ethereum Trust (ETHE) has started to stop losing money.
On this particular day, the majority of funds flowing in were contributed by The BlackRock iShares Ethereum Trust (ETHA), with an impressive $295.7 million being added, raising its total inflows to a substantial $2.3 billion.
On a single day, Fidelity’s Ethereum Fund (FETH) attracted an inflow of approximately $113.6 million, Grayscale’s Ethereum Mini Trust (ETH) saw inflows of around $30.7 million, and the Bitwise Ethereum ETF (ETHW) recorded inflows amounting to $6.6 million.
The trust known as Grayscale’s Ethereum Trust (ETHE) experienced a withdrawal of approximately $15.1 million, while the remaining funds showed no inflows or outflows.
Currently, U.S. Bitcoin (BTC) ETFs are experiencing robust growth, with a total investment of approximately $747.8 million across 11 funds on December 5th.
According to CoinGlass, the majority of the inflow ($751.6 million) into Bitcoin-related trusts was facilitated by the BlackRock iShares Bitcoin Trust (IBIT), while Grayscale’s Bitcoin Trust (GBTC) experienced an outflow of $148.8 million.
Over the last five trading sessions, I’ve noticed a significant surge in investments into the BlackRock ETF, amounting to approximately $2.5 billion. This adds to the staggering $34 billion that has flowed into this fund since its launch, underscoring its growing popularity among investors like myself.
The Ether ETF inflows have ramped up as spot ETH prices have gained 16% over the past fortnight.
The asset hit an eight-month high of $3,946 on Dec. 5, according to CoinGecko.
Over the coming half year to year, I personally believe that the value of Ether relative to Bitcoin, often referred to as the ETH/BTC ratio, is likely to rise. This perspective stems from the analysis of several experts who foresee a potential growth trend for Ether following a period of underperformance compared to Bitcoin.
Right now, the ratio stands at 4%, marking a 14.5% surge in value during the last month, as per TradingView’s data.
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2024-12-06 07:48