The U.S. spot Ether exchange-traded funds (ETFs) have marked a significant milestone, registering the largest single-day inflow since their inception, as investor enthusiasm surges following Donald Trump’s election victory. On November 11, these ETFs saw inflows totaling $294.9 million, shattering the initial record of $106.6 million set on their launch day in July.
Leading the Surge
The Fidelity Ethereum Fund (FETH) led this surge, drawing a record $115.5 million. Not far behind, the BlackRock-issued iShares Ethereum Trust ETF (ETHA) attracted $100.5 million, while the Grayscale Ethereum Mini Trust ETF (ETH) added another $63.3 million. The Bitwise Ethereum ETF (ETHW) also contributed with inflows of $15.6 million. Remarkably, other U.S. spot Ether ETFs did not report any new inflows on that day.
These inflows coincided with Ether’s price jump of 8.4%, reaching a 14-week high of $3,384, mirroring a nearly 10% increase across the broader crypto market. Despite this, Ether still trails behind its competitors like Bitcoin and Solana, which have shown stronger performances in this bull cycle.
Crypto analysts have noted Ether’s late surge in the cycle. Rachael Lucas from BTC Markets highlighted that after lagging for most of this bull run, Ethereum is beginning to gain traction, particularly evident in the increasing momentum of spot Ether ETFs.
CK Zheng from ZX Squared Capital predicts that Ether, alongside Solana, will likely see significant gains in the coming months. This optimism is partly based on expectations that the new Trump administration will push forward blockchain technology and expedite digitalization within the financial sector.
Cumulative Inflows
Since their launch, U.S. spot Ether ETFs have amassed nearly $3.1 billion in total inflows, excluding the significant outflows experienced by the Grayscale Ethereum Trust (ETHE), which has seen nearly $3.13 billion in withdrawals. Of all the ETFs, BlackRock’s ETHA leads with over $1.5 billion in inflows.
As Ether ETFs break new ground with record inflows, the bullish sentiment among investors is palpable. This enthusiasm not only underscores the growing acceptance of Ethereum as a mainstream investment but also reflects a broader confidence in the crypto market’s future. With the potential for supportive federal policies under the new administration, Ethereum could be poised for further growth. Investors appear optimistic about Ethereum’s role in the evolving digital finance landscape, signaling a robust market outlook for this leading cryptocurrency.
