Ethereum

Satoshi

BlackRock

The 11 spot Bitcoin ETFs in the States continue to enjoy substantial investor demand following the presidential elections, with another week of multi-billion dollar net inflows.
This time, the same can and will be said about the spot Ethereum ETFs, which finally emerge as attractive investment tools.
<h2 id="btc-etf-inflows-rockets">BTC ETF Inflows Rockets</h2>
The previous business week – the last of November – was somewhat shaky as the <a href="https://cryptopotato.com/best-bitcoin-etf/" data-wpel-link="internal" rel="noopener noreferrer nofollow">BTC-based financial vehicles</a> were in the red on Monday and Tuesday, with outflows of $435.5 and $122.8, respectively. The week actually finished with more withdrawals, as Thursday was a national holiday.
However, the trend changed in the past week. $353.6 million entered the funds on Monday, with BlackRock leading the pack once again. $676 million <a href="https://farside.co.uk/bitcoin-etf-flow-all-data/" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">followed</a> on Tuesday, $556.8 million on Wednesday, $766.7 million on Thursday, and $376.6 million on Friday. Consequently, the total net inflows for the five-day trading period stood at $2,729.7 billion.
What’s particularly intriguing about this week was that almost all of those net inflows went into BlackRock’s IBIT. The world’s largest Bitcoin ETF, which <a href="https://cryptopotato.com/blackrocks-ibit-becomes-fastest-etf-in-history-to-hit-50b-in-aum/" data-wpel-link="internal" rel="noopener noreferrer nofollow">made more history</a> this week, attracted over $2.6 billion out of the total. Nate Geraci, ETF Store’s president, outlined IBIT’s dominance.
<blockquote class="twitter-tweet">
 “ETFs holding more btc than Satoshi is antithetical to btc’s ethos”…
 Imagine a world where investors will be able to take delivery of btc via IBIT shares they own (i.e. they can exchange IBIT for btc).
 It’s coming &amp; will simply be next step down path towards full tokenization.
 — Nate Geraci (@NateGeraci) <a href="https://twitter.com/NateGeraci/status/1865226664680054966?ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">December 7, 2024</a>
</blockquote>
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These impressive numbers impacted the underlying asset’s price movements as well. BTC skyrocketed past $100,000 for the first time ever on Thursday and <a href="https://cryptopotato.com/bitcoin-blasts-through-103000-after-trumps-pro-crypto-pick-for-sec/" data-wpel-link="internal" rel="noopener noreferrer nofollow">charted</a> a new all-time high of over $100,350.
<h2 id="eth-etf-demand-is-finally-here">ETH ETF Demand Is Finally Here</h2>
The <a href="https://cryptopotato.com/best-ethereum-etfs/" data-wpel-link="internal" rel="noopener noreferrer nofollow">spot Ethereum ETFs</a> struggled at first to attract any actual demand, but the landscape has changed completely in the past two weeks, with $1.4 billion entering the funds within that timeframe.
<blockquote class="twitter-tweet">
 Now 10 consecutive days of inflows into spot eth ETFs…
 $1.4bil total.
 Includes 2 best days since July launch.
 Advisors &amp; institutional investors only beginning to sniff around here IMO.
 — Nate Geraci (@NateGeraci) <a href="https://twitter.com/NateGeraci/status/1865598408632746131?ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">December 8, 2024</a>
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The record-setting day was on Thursday, with <a href="https://farside.co.uk/eth/" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">$428.5 million</a>. $24.2 million on Monday, $132.6 million on Tuesday, $167.7 million on Wednesday, and $83.8 million on Friday made the total of $836.8 million for the week – the best since the funds’ inception in July.
ETH’s price has also skyrocketed in the past several days, surging past $4,000 on Friday evening for the first time since March of this year. ETH is up by 8% since last Sunday.
The post <a href="https://cryptopotato.com/etf-recap-record-setting-week-for-ethereum-bitcoin-funds-amid-price-rallies/" rel="noopener noreferrer nofollow">ETF Recap: Record-Setting Week for Ethereum, Bitcoin Funds Amid Price Rallies</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.

ETF Recap: Record-Setting Week for Ethereum, Bitcoin Funds Amid Price Rallies

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