The US market for spot Ether exchange-traded funds (ETFs) has experienced an unprecedented surge, registering record inflows on what turned out to be a historic day for the cryptocurrency. On December 5, nine spot Ether ETFs collectively attracted $431.5 million in new investments. This figure marks the largest daily inflow since the launch of these funds on July 23, significantly surpassing the previous high of $333 million on November 29. Notably, these ETFs have experienced positive flows for nine consecutive trading days, accumulating over $1.3 billion in just two weeks.
This remarkable inflow not only reflects growing investor confidence in Ether but also indicates a positive turnaround for Grayscale’s Ethereum Trust, which has shown signs of stabilization after a period of outflows. The BlackRock iShares Ethereum Trust emerged as the standout performer of the day, securing an impressive $295.7 million, bringing its total inflows to $2.3 billion. Other noteworthy contributors included Fidelity’s Ethereum Fund, which saw inflows of $113.6 million, while the Grayscale Ethereum Mini Trust and Bitwise Ethereum ETF brought in $30.7 million and $6.6 million, respectively.
In a parallel development, spot Bitcoin ETFs also reported strong inflows, totaling $747.8 million across 11 funds on the same day. The BlackRock iShares Bitcoin Trust dominated this segment, with inflows of $751.6 million. Despite the overall upward trend for Bitcoin , Grayscale’s Bitcoin Trust experienced significant outflows amounting to $148.8 million.
The increasing interest in Ether ETFs coincides with a recent rally in Ether prices, which have surged by 16% over the past two weeks and reached an eight-month high of $3,946 on December 5. Analysts suggest that the Ether- Bitcoin ratio may strengthen further in the upcoming months, positioning Ether as a potential leader in the cryptocurrency market.
