The US Spot Ether exchange-traded fund (ETF) achieved a new record for daily inflows on November 29th.
According to Farside dataNine Spot Ether (ETH) ETFs received $332.9 million in inflows on November 29th, surpassing the previous single-day inflow record of $295.5 million reached on November 11th by $37.4 million. exceeded.
BlackRock handles most of the daily inflows.
BlackRock, the world's largest asset manager, was responsible for $250.4 million of the total inflows on Nov. 29. Nate Geraci, president of ETF Store, pointed this out in the Nov. 29 issue of X Magazine. post BlackRock’s iShares Ethereum Trust (ETHA) has currently recorded over $2 billion in inflows since the product launched on July 23rd.
The Spot Ether ETF had inflows of $332.9 million on November 29th. Source: CoinGlass
At the time of publication, Ether is trading at $3,662, up 1.88% since November 28, according to CoinMarketCap. data.
Pentoshi, a pseudonymous cryptocurrency trader, told the X newspaper on November 29th. post“There are now early signs of this happening with ETH, with flows finally starting to pick up and sellers starting to be absorbed. It's just going to take time.”
sauce: felix hartman
Several crypto commentators were quick to point out that the Ether ETF's inflows exceeded the $320 million inflows of the Spot Bitcoin (BTC) ETF, which was brought in on the same day.
Felix Hartman, founder of Hartman Capital, believes this is a signal that Wall Street is “officially joining” the “alternatives rotation.”
“The ETH ETF trend reversed the BTC ETF trend for the first time,” cryptocurrency commentator Ethereum Bivin said on X post.
Spot Ether ETF appears to be green despite BTC ETF having outflow date
The day the Ether ETF recorded more inflows than the Spot Bitcoin ETF marked the first time that both had inflows. However, this follows recent days where the Spot Bitcoin ETF experienced outflows while the Spot Ether ETF maintained positive inflow days.
Related: Ether ETF outperforms Bitcoin ETF amid recent ETH rally
Cointelegraph reported on November 29 that Ethereum ETFs will receive more investor funds than Bitcoin ETFs starting November 22, as the Ethereum decentralized finance (DeFi) ecosystem won a significant victory in a US court this week. reported to have increased.
Incorporated Spot Ether ETF $224.9 Net inflows reached $1 million in four business days from November 22nd to 27th, and the Spot Bitcoin ETF was also tallied. $35.2 The net inflow was 1 million, mainly due to the mass exodus on November 25th.
magazine: Charles Hoskinson, Cardano, Ethereum – For the record
