Ethereum

Value

Bitcoin

<h2 id="key-points">Key Points</h2>
<ul>
 <li>Ethereum ETFs have seen positive cumulative inflows for the first time since their inception.</li>
 <li>Blackrock’s ETHA is one of the top ETF launches this year.</li>
</ul>
<p>Ethereum ETFs have made a significant stride forward as they record positive total net flows for the first time since their launch.</p>
<p>Data from SoSo Value indicates a daily net inflow of $135.92 million, pushing the cumulative inflows to $94.62 million.</p>
<h2 id="increased-trading-activity">Increased Trading Activity</h2>
<p>Trading activity has surged, with a total value of $582.18 million traded and total net assets rising to $9.67 billion.</p>
<p>Out of nine ETFs, five experienced inflows while only Grayscale Ethereum Trust [ETHE] recorded outflows. The remaining funds did not register new inflows.</p>
<p>Industry leaders have noted this development. Nate Geraci, President of the ETF Store, emphasized that the net positive flows mark a significant milestone for <a href="https://coineagle.com/price/ethereum/" rel="noopener noreferrer nofollow">Ethereum</a> ETFs.</p>
<p>Geraci also pointed out that 19 out of the top 50 ETF launches this year are linked to <a href="https://coineagle.com/price/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a>, Ethereum, or MicroStrategy, with 12 among the top 18. This is a remarkable figure out of 610 total launches.</p>
<h2 id="ethereum-etfs-reach-new-heights">Ethereum ETFs Reach New Heights</h2>
<p>The ETFs experienced a record-breaking day on 11th November, registering $295 million in inflows.</p>
<p>This influx, led by industry giants like Fidelity and BlackRock, was nearly triple the previous peak of $106.6 million recorded on launch day.</p>
<p>Eric Balchunas, Bloomberg’s senior ETF analyst, noted that ETFs were trending in the right direction and anticipated a positive trend for the ETFs.</p>
<p>Meanwhile, Bitcoin ETFs also hit a record of their own. Balchunas revealed that Bitcoin ETFs crossed the $90 billion mark in assets under management, following a substantial $6 billion increase.</p>
<p>This comprised $1 billion in new inflows and $5 billion in market appreciation. This surge means that Bitcoin ETFs were now 72% of the way toward surpassing gold ETFs in total assets.</p>
<p>In a further sign of demand, IBIT reached $1 billion in trading volume within just 25 minutes, breaking an all-time record. Balchunas described the sustained interest in BTC ETFs as a “feeding frenzy” that shows no signs of slowing down.</p>

Unlocking the $10K Potential of Ethereum: The Power of ETFs in Crypto Surge

Table of Contents

CoinEagle.com

Other articles published on Nov 13, 2024

Traders Navigate Volatile Day in Global Crypto Markets

Cantor Fitzgerald CEO Lutnick vies for US Treasury secretary post

Bitcoin Surges Past $89,600 Following Fed Statements

RaveDAO and BNB Chain Present Thailand Nightopia: An Immersive Techno Experience Like No Other

XRP Ledger Unveils New Identity Tools with DIDs and Proposed XLS Specs

Day traders riding the Musk effect in election aftermath

Join our free newsletter for daily crypto updates!