Ethereum price jump spurs most significant ETF inflows in six weeks


  • US spot Ether ETFs gained $52.3 million in new inflows on Wednesday, a six-week high, with Fidelity and Grayscale leading.
  • The value of all cryptocurrencies rose to $2.52 trillion as Ether price rose 12%.
  • Spot Bitcoin ETFs also saw significant inflows, totalling $621.9 million, with Fidelity and others gaining and BlackRock seeing outflows.

​After a positive momentum in crypto markets following the outcome of the US presidential election, spot Ether exchange-traded funds (ETFs) in the United States saw their highest inflows in six weeks. Together, the nine newly-launched spot Ether ETFs saw a net inflow of $52.3 million on Wednesday.

While the inflow to Ether funds had remained modest, this was the highest since September 27, according to data from CoinGlass.

Total Ethereum Spot ETF net inflow

Total Ethereum Spot ETF net inflow. Source: CoinGlass

When dissecting the big figure, however, the data shows that just two ETFs recorded inflows: $26.9 million to the Fidelity Ethereum Fund and $25.4 million to Grayscale Ethereum Mini Trust. All the rest, including BlackRock’s iShares Ethereum Trust, didn’t register any inflows or outflows on Wednesday despite the price surge.

Ethereum Spot ETF net inflow by asset manager

Ethereum Spot ETF net inflow by asset manager. Source: CoinGlass

Fidelity leads Bitcoin ETF inflows with record $308.8 million

US-listed Bitcoin spot ETFs also registered inflows on Wednesday following BTC’s price surge. Net inflows of $621.9 million turned a page on three days of straight red, according to CoinGlass data. 

Total Bitcoin Spot ETF net inflow

Total Bitcoin Spot ETF net inflow. Source: CoinGlass

BlackRock's iShares Bitcoin Trust saw outflows for a second consecutive trading day, shedding $69.1 million. The fund also reported its highest trading volume, with $4.1 billion.

Bitcoin Spot ETF net inflow by asset manager

Bitcoin Spot ETF net inflow by asset manager. Source: CoinGlass

The most significant influx was $308.8 million into Fidelity’s Wise Origin Bitcoin Fund, which represented the fund’s most considerable inflow since June 4. Furthermore, Bitwise, Ark 21Shares, and Grayscale experienced more than $100 million in product inflows.

The crypto total market capitalization has reached $2.464 trillion, a 4% increase over the past 24 hours. 

crypto total market cap

Total crypto market capitalization. Source: TradingView


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended Content

Editors’ Picks

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC, ETH and XRP hints for a pullback ahead

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC, ETH and XRP hints for a pullback ahead

Bitcoin price action shows a bearish momentum on the RSI indicator, suggesting a decline ahead. Ethereum price faces resistance around the $4,000 level, indicating a pullback ahead. 

More Cryptocurrencies News
Ripple week in review: Can XRP resume rally to hit a new all-time high?

Ripple week in review: Can XRP resume rally to hit a new all-time high?

Ripple's XRP is up 7% on Friday as whales are holding onto their tokens despite high profit-taking among retail traders. This attitude from whales could push XRP to a new all-time high at $3.57.

More Ripple News
SushiSwap DAO proposes strategy to improve liquidity through treasury diversification

SushiSwap DAO proposes strategy to improve liquidity through treasury diversification

The Sushi decentralized autonomous organization (DAO) issued a proposal on Friday that offers a shift from the protocol's initial treasury holding in SUSHI to accommodate other assets.

More SushiSwap News
Ethereum Price Forecast: ETH nears its all-time high, sees record ETF inflows and high preference than Bitcoin

Ethereum Price Forecast: ETH nears its all-time high, sees record ETF inflows and high preference than Bitcoin

Ethereum has become more attractive to investors than Bitcoin since the US elections, noted Bybit. Ethereum ETFs posted their highest single-day net inflows after raking in $428.5 million. Ethereum could soon reach a new all-time high if it surpasses the yearly high resistance of $4,093.

More Ethereum News
Bitcoin: Long-awaited $100K milestone meets profit taking

Bitcoin: Long-awaited $100K milestone meets profit taking

Bitcoin ends the working week hovering around $98,000 after a very volatile Thursday when it surpassed the $100K milestone and underwent a sharp correction. Strong institutional demand, whale accumulation, and the choice of a pro-crypto figure to lead the US SEC fueled the rally this week. 

Read full analysis
Best Forex Brokers with Low Spreads

Best Forex Brokers with Low Spreads

VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.

Read More

BTC

ETH

XRP