
Spot Ether ETFs attracted a massive $332.92 million in daily inflows on November 29th, surpassing Bitcoin ETFs.
BlackRock's ETHA led the charge, attracting roughly $250 million, solidifying its position as a favorite among investors.
This surge in Ether ETF inflows indicates a growing investor interest in Ethereum.
Crypto investors are certainly making some bold moves, shifting their focus to spot Ether ETFs and showing increasing confidence in Ethereumโs potential. On November 29, spot Ether ETFs saw an incredible $332.92 million in daily inflows, overtaking Bitcoin ETFs for the first timeโand by a wide margin.
Why now? Will Ethereum finally catch up to Bitcoin and not just be “second best”? Let’s dive into the details.
BlackRock Leads the Ether ETF Surge
Hereโs the standout detail: only three of the nine active Ether ETFs drove this massive inflow. At the forefront was BlackRockโs iShares Ethereum Trust (ETHA), which alone brought in $250 million. Since launching in July, ETHA has accumulated over $2 billion, solidifying its position as a favorite among investors.
Fidelityโs FETH followed with $79 million, while Grayscale added $3.4 million. Though smaller in comparison to ETHA, these contributions show a growing institutional interest in Ethereum.
Ethereum Price Shows Strength
Ethereumโs price is holding steady at $3,695, reflecting a 3.79% gain in the last 24 hours. Trading volume has also risen by more than 11%, suggesting strong market activity. While the price is still about 24% below its all-time high of $4,891 from 2021, analysts believe breaking the $3,730 resistance level could pave the way for further gains.
Bitcoin ETFs Take a Back Seat
For once, Bitcoin wasnโt the center of attention. Spot Bitcoin ETFs recorded $320 million in inflows on the same dayโa strong showing but not enough to outshine Etherโs performance. Interestingly, only six out of twelve Bitcoin ETFs posted inflows. Maybe the tide is changing?
Over the past week, Ether ETFs have been quietly dominating. Between November 22 and 27, they raked in nearly $225 million, while Bitcoin ETFs only managed $35 million, mostly because of a big outflow on November 25.
Ethereum All Set to Dominate
The growing inflows into Ether ETFs signal that investors are increasingly optimistic about Ethereumโs prospects. Whether itโs the recent price action or excitement around its expanding use cases, Ether seems to be stepping out of Bitcoinโs shadow.
Keep your eyes closely peeled on Ethereum and don’t miss out on the opportunity!
FAQs
Ethereum is trading at $3,695, up 3.79% in 24 hours. Breaking $3,730 resistance could push it closer to its 2021 peak of $4,891.
Ethereumโs expanding use cases, scalability, and ETF success show growing trust in its potential to rival Bitcoin in market dominance.