Spot Ethereum $3,092 ETFs captured attention on Monday by achieving the highest daily inflows ever recorded. This surge propelled the ETH price by 5.5%, bringing it to $3,370. Following this movement, ETH’s weekly gain reached approximately 38%.
Record Interest in Spot Ethereum ETFs
On November 11, spot Ethereum ETFs set a new daily record with $295 million in inflows. Notably, Fidelity’s FETH ETF contributed the most with an inflow of $115.5 million. Meanwhile, BlackRock’s ETHA ETF received $100 million, and Grayscale’s mini-ETF closed the day with $63.3 million.
Following Donald Trump’s victory last week, interest in Ethereum ETFs has soared. In the past four days, total inflows into Ether ETFs surpassed $500 million, with significant contributions from BlackRock and Fidelity.
Surge in ETH Price Movements
In addition to the record $295 million inflow into spot ETH ETFs, over $500 million entered within four trading days post-election. This indicates that Ethereum ETFs are competing with the rising inflows of Bitcoin $88,762 ETFs. On Monday, spot Bitcoin ETFs garnered more than $1 billion, with BlackRock’s IBIT ETF taking the lead.
Expert James Butterfill from CoinShares pointed out that these inflow levels represent the highest since the Ethereum ETF launch in July. He emphasized that more investors are turning to traditional financial products to gain exposure to cryptocurrencies.
Ethereum is on a robust upward trend, showing a 38% increase weekly, as it aims for the significant $4,000 mark while preparing for new record highs. The price movement indicates that if ETH breaks out of its expanding triangle formation, it could reach $5,450, leading to a potential acceleration in the bullish market.