David Edwards
BlackRock, the world’s leading asset manager, recorded its highest daily inflow into its iShares Ethereum Trust ETF (ETHA) in 94 days. According to Farside data, ETHA amassed $60.3 million on November 8, the most substantial daily inflow since August 6, when it reached $109.9 million.
The surge in inflows coincided with Ether’s (ETH) price stabilizing near the $3,000 threshold—its highest point since August—reaching a peak of $2,971, per CoinMarketCap data. As of this writing, Ether is trading at approximately $2,970.
This inflow spike followed a significant political event, with Donald Trump recently declared the 47th president of the United States. Analysts suggest this political shift could be partially linked to the robust inflows seen in ETHA, as investors assess market responses to the new administration.
In the past week alone, BlackRock’s ETHA reported cumulative inflows of $84.3 million. Other major funds have seen similar movements, including Fidelity’s Ethereum Fund (FETH) with $18.4 million, VanEck’s Ethereum Fund (ETHV) at $4.3 million, and Bitwise’s Ethereum ETF (ETHW) with $3.4 million.
This development follows a report by Cointelegraph indicating BlackRock’s spot Bitcoin ETF exceeded $1 billion in daily inflows for the first time since its launch. BlackRock’s iShares Bitcoin Trust (IBIT) accounted for nearly 82% of the $1.34 billion inflows among the 11 U.S.-listed spot Bitcoin ETFs on that day.
Amid these ETF inflows, Ether has shown its strongest weekly gains in six months, as reported by Cointelegraph. Although Bitcoin’s recent momentum has decelerated, ETH has rallied to a quarterly high, lifting the ETH/BTC trading pair by 6% over the past week. This trend has sparked speculation of a potential ETH/BTC reversal, with Ethereum briefly outperforming Bitcoin in recent days. Into The Cryptoverse founder Benjamin Cowen echoed this sentiment, suggesting in a November 8 post on X that “the bottom may be in for ETH/BTC.”
