U.S. Ether ETFs Post Record Inflows, Bitcoin ETFs Add Most in Two Weeks
The investment interest comes after ether added about 60% in a month.
Dec 6, 2024, 10:51 a.m. UTC
Net inflows into U.S. spot ether (ETH) 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 Nate Geraci, 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 (BTC) 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 $50 billion in assets. Now, it has taken in $2.5 billion in five days, the most among any ETF, according to Eric Balchunas, 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.
James Van Straten
As the senior analyst at CoinDesk, specializing in Bitcoin and the macro environment. Previously, working as a research analyst at Saidler & Co., a Swiss hedge fund, introduced to on-chain analytics. James specializes in daily monitoring of ETFs, spot, futures volumes, and flows to understand how Bitcoin interacts within the financial system. James holds more than $1,000 worth of bitcoin, MicroStrategy (MSTR) and Semler Scientific (SMLR).
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