As a seasoned crypto investor with over a decade of experience navigating the volatile digital asset landscape, I must say that the recent influx into U.S.-based spot Ether exchange-traded funds (ETFs) has caught my attention. The consistent positive net flows, particularly the record-breaking days, are a testament to the growing interest in Ethereum and the broader crypto market.
Flows into U.S.-based Ether exchange-traded funds (ETFs) have reversed direction and are now showing a net increase, with BlackRock’s fund experiencing its second-largest net investment since it began operation in July.
On November 12th, there was a collective inflow of approximately $135.9 million into the Ether Exchange-Traded Funds (ETFs), as per data from Farside Investors. This inflow follows a record-breaking $295 million inflow on the previous day, November 11th.
For the first time since their launch in July, the combined net inflows of the nine funds have collectively surpassed $107.2 million, marking an extended period of daily positive contributions.
Grayscale’s Ethereum Trust (ETHE) has now experienced more money coming in ($3.1 billion) than going out ($3.32 billion), marking a continuation of its trend, albeit with a weekly loss of $33.2 million.
In the past few days, BlackRock’s iShares Ethereum Trust (ETHA) experienced one of its second-biggest investments since its launch, with approximately $131.4 million. This recent influx was only outdone by a record-breaking investment of $266.5 million on July 23.
The president of ETF Store, Nate Geraci, noted that the BlackRock fund ranked among the top six ETF launches in the year 2024. To date, it has accumulated $1.67 billion in assets and hasn’t experienced a single day with net outflows yet.
Yesterday, the Bitwise Ethereum ETF experienced a $17 million investment flow, while Grayscale’s Ethereum Mini Trust received approximately $12.7 million. There were also modest investments made into both Ark 21Shares and VanEck’s funds.
Moreover, for the fifth straight trading day, there have been inflows into Ethereum (ETH) ETFs, accumulating nearly $650 million in these funds during this period.
In a separate Nov. 13 X post, Geraci said that there is “nothing more interesting in asset management right now than the intersection of crypto and ETFs,” adding that it involves the “largest asset managers, politicians, regulators, everyone.”
“Remember, ETFs are simply a bridge for the mainstream to access crypto. Once that bridge is fully built, no going back.”
Over the last seven days, Ethereum (ETH) climbed by 32%, reaching a peak of around $3,400 on November 12th. This surge in value is enough to overtake the total market capitalization of Solana (SOL), the fourth-largest cryptocurrency, which took five days to accomplish. As a result, Ethereum’s market capitalization surpassed $400 billion this week.
On November 12th, there was yet another strong day for Bitcoin Exchange-Traded Funds (ETFs), as a collective sum of $817.5 million flowed into these funds, as reported by Farside Investors.
Read More
- CTXC PREDICTION. CTXC cryptocurrency
- CTK PREDICTION. CTK cryptocurrency
- OKB PREDICTION. OKB cryptocurrency
- DGB PREDICTION. DGB cryptocurrency
- TNSR PREDICTION. TNSR cryptocurrency
- EUR JPY PREDICTION
- IMX PREDICTION. IMX cryptocurrency
- CRV PREDICTION. CRV cryptocurrency
- TRU PREDICTION. TRU cryptocurrency
- Bitcoin profit-taking remains ‘below historical peaks’ amid $90K high
2024-11-13 09:00