Ethereum ETF Inflows Surge as Weekly Demand Hits New Highs
Spot Ethereum ETF inflows soared to a weekly high of $85.9 million, with BlackRock’s total Ethereum ETF inflows reaching a milestone of $1.4 billion. Ethereum outperformed Bitcoin in weekly growth, gaining 18% compared to Bitcoin’s 9.9%. Amidst increasing investor optimism, the SEC postponed its decision on options trading for spot Ethereum ETFs, yet inflows continue to rise.
Following significant events such as Donald Trump’s recent election victory and the Federal Reserve’s 25-basis-point rate cut, Ethereum ETF inflows have sharply increased. Over the last three days, these funds recorded consistent net inflows, reversing the previous trend of outflows. The net outflow, which previously stood at $550 million, has now decreased to $324 million, signaling a renewed investor confidence in Ethereum.
Ethereum ETF Flows (as of 2024-11-08)
- Total Net Flow: $85.9 million
- Leading Inflows:
- BlackRock’s ETHA: $59.8 million
- Fidelity’s FETH: $18.4 million
- ETHW: $3.4 million
- ETHV: $4.3 million
This influx has brought BlackRock’s Ether ETF inflows to a cumulative $1.4 billion, underscoring a positive trend for Ethereum-focused investment products. Although Ethereum ETFs still trail Bitcoin ETFs in total inflows, the consistent growth could suggest a potential boost during a possible altcoin season.
Ethereum Outshines Bitcoin in Weekly Performance
Ethereum also displayed strong market performance with an 18% weekly gain, significantly surpassing Bitcoin’s 9.9% rise. The ETH/BTC pair saw a noteworthy increase, reinforcing a shift toward bullish sentiment. Ethereum’s price has now breached $3,000, reflecting a 4.86% gain that pushed it above a key resistance level and the 200-day moving average, turning investor sentiment bullish.
If Ethereum sustains this momentum, analysts believe a rally toward $4,000 could be within reach. With inflows continuing and broader market trends favoring Ethereum, the current accumulation period lasting over 90 days could mark the start of a new growth cycle. Despite regulatory delays, investor interest remains high, making Ethereum a focal point in the evolving crypto market.
