On December 5, spot Ether exchange-traded funds (ETFs) in the United States experienced their largest single-day inflow. Data from Farside Investors reveals that nine spot Ether ETFs collectively attracted $431.5 million in investments, marking the ninth consecutive trading day of positive net flows for the growing cryptocurrency.
This influx eclipsed the previous record of $333 million set on November 29, signaling heightened investor confidence in Ether ETFs.
Ethereum Funds Surpass $1.3 Billion in Two-Week Inflows
Over the past two weeks, Ethereum-focused funds have drawn over $1.3 billion in inflows, solidifying Ether’s status as a rallying force in the cryptocurrency market. Total net inflows have now exceeded $1 billion, partly fueled by the stabilization of Grayscale’s Ethereum Trust (ETHE), which had been under earlier market pressures.
BlackRock Leads Ethereum ETF Surge
BlackRock’s iShares Ethereum Trust (ETHA) led the charge on December 5, reporting a record-breaking $295.7 million in inflows, bringing its cumulative total to $2.3 billion. Fidelity’s Ethereum Fund (FETH) followed with $113.6 million in new investments. Other players, including Grayscale’s Ethereum Mini Trust (ETH) and Bitwise’s Ethereum ETF (ETHW), recorded inflows of $30.7 million and $6.6 million, respectively.
However, Grayscale’s larger Ethereum Trust (ETHE) registered an outflow of $15.1 million, with no notable changes reported from other funds.
Bitcoin ETFs See Strong Momentum
Spot Bitcoin ETFs in the U.S. also experienced robust inflows on December 5, with 11 funds collectively attracting $747.8 million. BlackRock’s iShares Bitcoin Trust (IBIT) led the group, contributing $751.6 million, which offset Grayscale’s Bitcoin Trust (GBTC) outflow of $148.8 million.
Since its launch, BlackRock’s Bitcoin ETF has accumulated nearly $34 billion in inflows.
Ether’s Price Hits an Eight-Month High
Ether’s performance has been boosted by a 16% price increase over the past two weeks, reaching $3,946 on December 5, according to CoinGecko. Analysts suggest that Ether’s strength against Bitcoin, as indicated by the ETH/BTC ratio, is set to rise further. The ratio has already climbed 14.5% in the past month to reach 0.04.
Bitcoin Reaches New Milestone and Market Dominance Surges
On December 7, Bitcoin achieved a new all-time high of $104,000, increasing its market dominance by 4.4% to 57%. This surge disrupts the narrative of an impending “altcoin season,” where alternative cryptocurrencies traditionally outperform Bitcoin.
Bitcoin dominance, which had dropped to 54.7% on December 4, rebounded sharply due to its explosive price movement, surprising the cryptocurrency market. Despite the milestone, Sergei Gorev, Head of Risk at YouHodler, issued a cautious outlook. Gorev noted that Bitcoin’s price might experience moderate growth before a significant correction, citing the market’s tendency to react to round numbers and the upcoming expiration of futures and options contracts
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