Crypto investors are certainly making some bold moves, shifting their focus to spot Ether ETFs and showing increasing confidence in Ethereum’s potential. On November 29, spot Ether ETFs saw an incredible $332.92 million in daily inflows, overtaking Bitcoin ETFs for the first time—and 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.
Here’s the standout detail: only three of the nine active Ether ETFs drove this massive inflow. At the forefront was BlackRock’s 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.
Fidelity’s 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
Ethereum’s 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.
For once, Bitcoin wasn’t the center of attention. Spot Bitcoin ETFs recorded $320 million in inflows on the same day—a strong showing but not enough to outshine Ether’s 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.
The growing inflows into Ether ETFs signal that investors are increasingly optimistic about Ethereum’s prospects. Whether it’s the recent price action or excitement around its expanding use cases, Ether seems to be stepping out of Bitcoin’s shadow.
Keep your eyes closely peeled on Ethereum and don’t miss out on the opportunity!
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.
Ethereum’s expanding use cases, scalability, and ETF success show growing trust in its potential to rival Bitcoin in market dominance.
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