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COINTURK NEWS > Ethereum (ETH) > Investors Drive Record Interest in Spot Ethereum ETFs
Ethereum (ETH)

Investors Drive Record Interest in Spot Ethereum ETFs

In Brief

  • Spot Ethereum ETFs saw record inflows of $295 million on November 11.

  • ETH price rose by 5.5%, reaching $3,370, with a weekly gain of 38%.

  • Investors increasingly favor traditional financial products for cryptocurrency exposure.

Ömer Ergin
Ömer Ergin 7 months ago
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Spot Ethereum $2,524 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%.

Contents
Record Interest in Spot Ethereum ETFsSurge in ETH Price Movements

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 $104,790 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.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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Ömer Ergin 12 November, 2024 - 10:18 am 12 November, 2024 - 10:18 am
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