Ethereum (ETH) is gaining momentum. This can be seen in the rising price, but also in the increasing flow of money into the stock exchange funds from the United States. In fact, yesterday was their best day since launching in July with over $300 million in inflows.
Record improved by 12%
Specifically, the nine Ethereum spot exchange-traded funds (ETFs) have seen net inflows of $332.9 million, according to data from Farside Investors. The old record of $295.5 million, which was set on November 11, has been surpassed by more than 12%.
The historic result is largely due to BlackRock, the largest asset manager in the world. His ETHA fund grew by $250.4 million yesterday. This means its total inflow since launch now exceeds $2 billion.
Furthermore, only Fidelity actually had a good day, with $79.1 million in inflows.
The underlying Ethereum price has also had a good day. The price has risen by almost 4% and is above $3,700 for the first time since June.
Total net inflows for all Ethereum ETFs combined now stand at $576.8 million. The results have been disappointing for months, but this month they managed to turn the tide.
Ethereum surpasses Bitcoin
This week the funds closed with a positive result. A total of $466.5 million in capital has been raised. This makes it the second best week since launch. The week of November 11 to 15 leads with an inflow of $515.3 million.
They have even raised more capital than the bitcoin funds launched in January. This has never happened before, and it’s a stark contrast. Bitcoin funds have lost $135.1 million in the past week.
The question now is whether the Ethereum ETFs can maintain their current form.
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Source: https://newsbit.nl/nieuw-record-voor-ethereum-etfs-meer-dan-300-miljoen-instroom/
