As a seasoned crypto investor with a knack for spotting trends and a keen interest in the Ether ecosystem, I find the recent surge in Spot Ether ETF inflows incredibly exciting. Having witnessed the early days of Bitcoin and the subsequent rise of Ethereum, I can’t help but feel that we are on the cusp of something truly monumental.
On November 29, U.S. Ether exchange-traded funds experienced an all-time high in their daily investments.
Based on Farside’s data, a total of $332.9 million was invested into the nine Ether (ETH) ETFs on November 29, breaking the daily inflow record which was previously set at $295.5 million on November 11 by an additional $37.4 million.
BlackRock responsible for majority of daily inflows
On November 29, BlackRock, the world’s largest asset manager, accounted for approximately $250.4 million of the overall investments made that day. Notably, as highlighted by Nate Geraci, president of ETF Store in a recent post on Nov 29, BlackRock’s iShares Ethereum Trust (ETHA) has accumulated more than $2 billion in investments since its debut on July 23.
Currently, as of its latest release, Ether’s value stands at approximately $3,662. This represents a 1.88% increase compared to the price on November 28th, based on information gathered from CoinMarketCap.
An anonymous cryptocurrency trader known as Pentoshi expressed in a recent Reddit post on November 29th that there are early indications of a shift occurring in Ethereum. As activity starts to increase noticeably and sellers are gradually being offset, he noted that this process simply requires time.
As a crypto analyst, I noticed an interesting observation yesterday – the inflows into the Ether Exchange-Traded Fund (ETF) surpassed the daily inflows of the spot Bitcoin (BTC) ETF by a significant margin, amounting to approximately $320 million.
Felix Hartmann, founder of Hartmann Capital, suggests that Wall Street’s involvement in the “rotation” of alternative assets signifies they are now participating actively.
For the very first time, the flow of investments into ETH Exchange-Traded Funds (ETFs) has surpassed those going into Bitcoin ETFs, as per a statement made by crypto analyst Ethereum Vibin on his recent post.
Spot Ether ETF sees green, despite BTC ETF having outflow days
For the very first time, more funds have flowed into Ether ETFs rather than Bitcoin ETFs on days when both types of ETFs received funds. This is following several days where Ether ETFs consistently saw positive inflow days, while Bitcoin ETFs experienced a decrease in funds.
Starting on November 29th, according to CryptoMoon’s report, Ether Exchange-Traded Funds (ETFs) have received more investments from investors compared to Bitcoin ETFs since November 22nd. This shift follows a significant legal win for Ethereum’s decentralized finance (DeFi) sector in a US court this week.
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2024-11-30 10:07