Investors pile a record $432M into Ether ETFs amid 9-days of inflows

Spot Ether exchange-traded funds in the United States have just recorded their largest day of inflows in history, resulting in the ninth consecutive trading day of positive flows for the rallying cryptocurrency.

The nine-spot Ether ETFs in the US saw an aggregate inflow of $431.5 million on Dec. 5, according to preliminary data from Farside Investors and decentralized news aggregator Tree News.

It’s the largest daily inflow since the funds launched on July 23, eclipsing the previous record of $333 million on Nov. 29. The Ether (ETH $3,891.80) ETFs have been at a daily net positive since Nov. 21 and have accumulated more than $1.3 billion over the past fortnight. 

The massive inflow day brings the total net inflow to over $1 billion, a figure that is steadily increasing now that Grayscale’s Ethereum Trust (ETHE) has slowed its bleed. 

The BlackRock iShares Ethereum Trust (ETHA) contributed the lion’s share of the day’s inflows with a record $295.7 million for the day, bringing its total inflow to $2.3 billion. 

Fidelity’s Ethereum Fund (FETH) inflow reached $113.6 million on the day, while Grayscale’s Ethereum Mini Trust (ETH) had $30.7 million, and the Bitwise Ethereum ETF (ETHW) recorded $6.6 million. 

Grayscale’s Ethereum Trust (ETHE) registered an outflow of $15.1 million, and the rest of the funds recorded zero flows. 

Meanwhile, spot Bitcoin (BTC $97,866) ETFs in the US continue to see solid momentum with a net inflow of $747.8 million for the 11 funds on Dec. 5. 

The BlackRock iShares Bitcoin Trust (IBIT) was responsible for most of the figure with an inflow of $751.6 million as Grayscale’s Bitcoin Trust (GBTC) outflowed $148.8 million, according to CoinGlass. 

The BlackRock ETF has now seen inflows of almost $2.5 billion over the past five trading days, bringing its total inflow since launch to a whopping $34 billion. 

The Ether ETF inflows have ramped up as spot ETH prices have gained 16% over the past fortnight. 

The asset hit an eight-month high of $3,946 on Dec. 5, according to CoinGecko.  

Ether’s strength against Bitcoin — or the ETH/BTC ratio — “should go higher” over the next six to 12 months after a stretch of underperformance, according to analysts.

The ratio is currently at 0.04 having increased by 14.5% over the past month, according to TradingView.