Investors Channel Record $432M Into Ether ETFs

Spot Ether exchange-traded funds (ETFs) in the United States witnessed unprecedented inflows, marking their most significant single-day surge since inception. On December 5, cumulative inflows across nine Ether ETFs totaled $431.5 million, per data from Farside Investors and Tree News. This inflow also extended the streak to nine consecutive trading days of net-positive performance for the cryptocurrency funds.

This surge eclipses the prior record of $333 million set on November 29 and adds to an impressive $1.3 billion accumulated in the past fortnight. Grayscale’s Ethereum Trust, which had previously experienced significant outflows, has contributed to stabilizing the overall landscape, enabling total Ether ETF inflows to surpass $1 billion as of December 5.

Key Contributors

• BlackRock iShares Ethereum Trust: Led the charge with a record-breaking $295.7 million in daily inflows, pushing its cumulative total to $2.3 billion.
• Fidelity Ethereum Fund: Secured $113.6 million, reinforcing its position as a top player.
• Grayscale’s Ethereum Mini Trust and Bitwise Ethereum ETF: Attracted $30.7 million and $6.6 million, respectively.

In contrast, the Grayscale Ethereum Trust faced outflows of $15.1 million, while other funds remained flat.

Broader ETF Landscape

While Ether ETFs garnered attention, spot Bitcoin ETFs also reported robust activity, amassing $747.8 million in net inflows across 11 funds on December 5. The BlackRock iShares Bitcoin Trust led the sector with $751.6 million, offsetting $148.8 million in outflows from Grayscale’s Bitcoin Trust. Since its launch, the BlackRock ETF has garnered $34 billion in cumulative inflows, a testament to its dominance in the space.

Price and Market Dynamics

Spot Ether prices have surged 16% over the past two weeks, reaching an eight-month high of $3,946 on December 5, per CoinGecko. Analysts expect the ETH/BTC ratio, currently at 0.04 after rising 14.5% in the past month, to continue strengthening over the next six to 12 months, signaling a potential altcoin rotation.

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