Mike Smith
December 2
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Investments in Ethereum-based exchange-traded funds hit a new all-time high, surpassing Bitcoin ETFs in daily capital inflows. The contribution of BlackRock, the world's largest investment company, is especially noticeable, as it actively increases its influence in the crypto asset market.
On November 29, nine US Ethereum ETFs attracted $332.9 million, which is $37.4 million more than the previous record set on November 11. The bulk of this amount - $250.4 million - comes from the BlackRock fund. Since its launch on July 23, BlackRock's iShares Ethereum Trust (ETHA) has already attracted more than $2 billion. According to Nate Geraci, president of the ETF Store, this is just the beginning, as interest in Ethereum from major players continues to grow.
For the first time in history, the daily inflow of funds into the Ethereum ETF exceeded the same figure for the Bitcoin ETF. On the same day, funds based on the first cryptocurrency attracted $320 million - $2.9 million less than the Ethereum ETF. Such dynamics indicate the growing recognition of Ethereum as an independent instrument, and not just an alternative to Bitcoin.
Felix Hartmann, the head of Hartmann Capital, considers this a direct signal that Wall Street has seriously paid attention to altcoins. At the same time, a well-known crypto trader under the pseudonym Pentoshi emphasizes that the market is showing the first signs of a change in the balance between buyers and sellers.
From November 22 to 27, Ethereum ETFs managed to attract $224.9 million, while Bitcoin ETFs were limited to $35.2 million. Large investors are clearly betting on Ethereum’s technological potential, confirming its steady growth in popularity.
At the time of publication, Ethereum is trading at $3,682, up 4.2% from the previous day. Over the past week, there has been a steady excess of inflows into Ethereum ETFs compared to Bitcoin ETFs. This trend may reflect a change in the sentiment of institutional investors, who are increasingly choosing a platform with broader capabilities and prospects.
