Spot Ethereum ETFs Outperform Bitcoin ETFs In Last 4 Days

Spot Ethereum ETFs Outperform Bitcoin Rivals In Past Four Days As ETH Surges 6%

Updated: 29 November 2024

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Inflows into spot Ethereum ETFs have outpaced their Bitcoin ETF rivals in the past four trading days as Ethereum’s price climbs 6% this week amid growing investor optimism about the biggest altcoin.

Spot Ethereum ETFs recorded net inflows of $224.9 million over the past four days, while their Bitcoin counterparts registered total net inflows of just $35.2 million over the same period, according to data from Farside Investors.

BlackRock’s ETHA Leads Spot Ethereum ETFs In 4-Day Inflow Streak

A handful of the US ETH investment products are responsible for the latest inflows into spot Ethereum ETFs since Friday. Leading the charge is ETHA, the fund belonging to asset management giant BlackRock.

In the last 4 days, BlackRock’s ETH ETF has recorded net inflows of 149.8 million. The fund’s biggest day was on Nov. 22, when $99.7 million entered its reserves. Meanwhile, Fidelity’s FETH, Bitwise’s ETHW, Grayscale’s ETH, and VanEck’s ETHV all recorded net inflows over the past 4 days.

Ethereum ETF Flow (US$ million) – 2024-11-27

TOTAL NET FLOW: 90.1

ETHA: 0
FETH: 38
ETHW: 1.6
CETH: 0
ETHV: 13.2
QETH: 0
EZET: 0
ETHE: 0
ETH: 37.3

For all the data & disclaimers visit:https://t.co/FppgUwAthD

— Farside Investors (@FarsideUK) November 28, 2024

21Share’s CETH, Invesco’s QETH, and Grayscale’s ETH all recorded net outflows over the same period, while Franklin’s EZET registered no new flows.

ETH Boosted By Tornado Cash Ruling – 10X Research

The strong spot ETH ETF inflows come during a surge in Ethereum’s price. CoinMarketCap data shows ETH is trading at $3,569.72 as of 2:51 a.m. EST following a more than 6% surge in the altcoin’s price over the last week. Bitcoin’s fallen almost 3% over the same period.

10X Research founder Markus Thielen said the rise in the Ethereum price to above the $3.5K mark was given a boost by Tornado Cash’s recent court victory.

“As Ethereum remains the leading blockchain for DeFi, this decision is viewed positively for the broader DeFi ecosystem and other protocols, particularly on the Ethereum network,” said founder Markus Thielen, founder of 10X Research. “This could have enormous implications.”

Reports that crypto advocate Paul Atkins could replace the anti-crypto and outgoing US SEC Chair Gary Gensler have also contributed to the positive sentiment around ETH, which currently lacks legal clarity from the regulator regarding its securities status.