‘Ethereum is starting to catch a bid’ — US ETFs hit record $295M inflow

The United States spot Ether exchange-traded funds (ETFs) recorded their biggest day of inflows in history, as the crypto market continues to rally after Trump’s election victory. 

The ETFs, which launched in July, recorded $294.9 million in inflows on Nov. 11 — smashing the previous record of $106.6 million on launch day. 

The Fidelity Ethereum Fund (FETH) led the pack with $115.5 million in inflows — a record for the fund — while the BlackRock-issued iShares Ethereum Trust ETF (ETHA) was second with $100.5 million, according to Farside Investors and preliminary data from crypto news aggregator Tree News.

The Grayscale Ethereum Mini Trust ETF (ETH) rounded out the top three with $63.3 million in inflows, while the Bitwise Ethereum ETF (ETHW) posted $15.6 million. All other US spot Ether ETFs recorded zero inflow.

Spot Ether ETF flows since Nov. 1. Note BlackRock’s ETHA has not been updated in Farside Investors’ flow table. Source: Farside Investors

It comes as Ether (ETH) soared 8.4% to a 14-week high of $3,384 on Nov. 11 — in line with the broader market’s near-10% price rise over the same timeframe, CoinGecko data shows.

Ether is, however, playing catch up with Bitcoin (BTC), Solana (SOL) and other competitors that have outperformed it this bull cycle, BTC Markets crypto analyst Rachael Lucas said in a note to Cointelegraph.

“After being a laggard for most of this cycle Ethereum is starting to catch a bid,” Lucas said, pointing to spot Ether ETFs gaining momentum after a relatively slow start.

Lucas said Ether staking returns (not accessible through United States spot Ether ETFs) will also become more appealing to traditional investors as they consider Ether’s bull case.

“[There’s] no reason to believe ETH won’t run well.”

Related: Ethereum hits $3.2K, surpassing Bank of America market cap

CK Zheng, a founder at ZX Squared Capital, told Cointelegraph that Ether would likely benefit from a pro-crypto Trump administration in the coming months:

“ETH and SOL will perform well in the next few months if the new Trump administration actively promotes blockchain technology and speed up the digitalization in the financial industry.”

Since launch, US spot Ether ETFs have accumulated almost $3.1 billion in inflows when excluding outflows from the Grayscale Ethereum Trust (ETHE), which has bled almost $3.13 billion.

BlackRock’s ETHA leads all with more than $1.5 billion worth of inflows since the investment products launched on July 23.

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