What to know:
- A record net $428.5 million flowed into U.S. spot ether ETFs on Thursday.
- Bitcoin ETFs registered the biggest inflows since Nov. 21.
As a seasoned crypto investor with a decade of experience under my belt, I can confidently say that the recent inflows into U.S. spot Ether and Bitcoin ETFs are nothing short of exhilarating. Having weathered numerous market cycles, I’ve learned to read between the lines, and these figures scream ‘bull run’.
In the last five days, there has been an increase in investments flowing into U.S. Ether (ETH) exchange-traded funds (ETFs), with a new high of $428.5 million being recorded on Thursday.
BlackRock’s ETHA led the way with a staggering $292.7 million inflow, setting a new record. Over the past five days, ether exchange-traded funds (ETFs) have attracted close to $800 million, as reported by Farside Investors.
After experiencing a roughly 60% increase over the last month, the second-biggest cryptocurrency by market capitalization is now being traded near $3,900.
According to Nate Geraci, president of the ETF Store, Ether ETFs have experienced over $1.3 billion in net inflows since their launch in July, which is quite remarkable given that Grayscale’s Ethereum Trust (ETHE) saw nearly $3.5 billion in outflows during the same period. This growth has occurred despite restrictions such as no staking allowed, no options trading, no in-kind creation/redemption, limited access to major wirehouses, and Vanguard not participating, making it even more impressive.
Bitcoin ETFs experienced significant investments last week, with a total of $766.7 million added, marking the highest weekly inflow since November 21st.
The inflows were primarily controlled by the BlackRock’s iShares Bitcoin Trust (IBIT), which brought in an impressive $770.5 million in new investments. Remarkably, IBIT has been setting new benchmarks. It recently surpassed $50 billion in assets under management and has just recorded a staggering $2.5 billion inflow over a five-day period, making it the leading ETF in terms of daily inflows, as reported by Eric Balchunas, a senior ETF analyst at Bloomberg.
As a crypto investor, I’ve come across some interesting insights recently. It turns out that among the thousands of ETF launches over the last decade, only about two have amassed as many dollars as IBIT has this year, throughout their entire existence according to what Geraci mentioned.
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2024-12-06 14:08