2024-12-8 13:51 |
Net inflows into U.S. spot ether (<a href="https://www.coindesk.com/price/ethereum/ " target="_blank">ETH</a>) exchange-traded funds (ETFs) have picked up in the past five days, with Thursday seeing a record $428.5 million.
The inflow was dominated by BlackRock's ETHA, which collected a net $292.7 million, also a record. In the past five days, the ether ETFs have seen almost $800 million in net inflows, according to data from Farside Investors.
The flows come after the second-largest cryptocurrency by market cap has risen about 60% in the past month. It's currently trading at around $3,900.
"Spot ether ETFs now with over $1.3 billion net inflows since July launch," said <a href="https://x.com/NateGeraci/status/1864839390314283184" target="_blank">Nate Geraci</a>, president of the ETF Store. "They have done this despite nearly $3.5 billion of outflows from ETHE, no staking allowed, no options trading, no in-kind creation/redemption, and very limited access to major wirehouses (plus Vanguard)." ETHE is Grayscale's Ethereum Trust.
The bitcoin (<a href="https://www.coindesk.com/price/bitcoin/ " target="_blank">BTC</a>) ETFs also recorded hefty inflows. The $766.7 million net accretion was the largest since Nov. 21.
The flows were dominated by BlackRock's iShares Bitcoin Trust (IBIT), which added $770.5 million in net inflows. IBIT continues to break all types of records. First, it crossed <a href="https://www.coindesk.com/markets/2024/12/05/traders-see-even-more-bitcoin-buying-pressure-as-btc-sets-new-record-at-103-k" target="_blank">$50 billion in assets</a>. Now, it has taken in $2.5 billion in five days, the most among any ETF, according to <a href="https://x.com/EricBalchunas/status/1864835644448448516" target="_blank">Eric Balchunas</a>, a senior ETF analyst at Bloomberg.
"IBIT has taken in more dollars this year than all but 2 of the 2,800+ ETF launches over the past 10 years have taken in during their total lifetime," Geraci said.
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