The nine-spot Ethereum (ETH) exchange-traded funds (ETFs) in the U.S appears set to register 14 days of net inflows. The ETFs have recorded ten consecutive days of positive inflows, beginning from November 22.
Ethereum ETF Inflows Signal Growing Interest
Farside Investor data shows that the Ethereum ETFs finished the week with $83.8 million inflow on Friday. Friday’s inflow came from five asset managers, namely BlackRock, Fidelity, Bitwise, VanEck, and Grayscale Mini Trust.
Notably, Fidelity’s FETH led with a total inflow of $47.9 million, followed by BlackRock’s ETHA with $34.6 million. Bitwise’s ETHW, VanEck’s ETHV, and Grayscale’s ETH raked in $13.4 million, $1.5 million and $22.9 million respectively.
Friday’s inflow marks ten consecutive days of favorable inflows into Ethereum ETF. This ten-day streak is the longest the funds have achieved since they commenced trading in July.
Additionally, Friday’s inflow marks the fourth-highest volume trading day as over $992 million worth of assets were traded, according to SoSoValue data.
Meanwhile, all nine ETF products except Grayscale’s ETHE have had a good run and are registering positive inflows. ETHE has suffered massive outflows since November 18, with only two days of zero flow on November 27 and 29, respectively. Experts have attributed these outflows to the huge transaction fees of 2.50%
Ethereum’s Price Rally and Market Sentiment
The growing institutional interest in Ethereum ETF syncs with the recent price spike of ETH in the market. Ethereum climbed into the $4,000 level following sustained investors’ interest in the altcoin. The coin crossed the psychologically significant level a day after Bitcoin hit $100,000.
As of this writing, CoinMarketCap data shows ETH exchanging hands at $4,000.79. Ethereum had reached $4,089 in earlier trading before dropping to their current levels. Despite this drop, analysts still anticipate Ethereum to test $5,000 in the ongoing bull cycle.
Fundamentals Fuelling Optimism for the Future
The growing institutional interest in Ethereum ETF, after having a slower start when compared with Bitcoin ETFs, has fuelled optimism for a brighter future. Furthermore, the industry has a positive outlook due to the nomination of pro-crypto individuals to head key positions by President-elect Donald Trump.
Analysts believe these fundamentals might support Ethereum’s quest to test the $5,000 level before the second quarter of 2025 ends.
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