Spot Ethereum ETFs see another $524 million in inflows after record-breaking day
Quick Take Spot ETH ETFs saw another $523.9 million in daily net inflows following a $1.02 billion net inflow day. This extends the ether funds’ positive streak to six consecutive days, during which they attracted $2.33 billion in net inflows.
U.S. spot Ethereum exchange-traded funds saw another $523.9 million in daily net inflows on Tuesday, following Monday's record-setting $1.02 billion .
According to data from SoSoValue, six of the nine ether ETFs recorded positive flows for the day, led by BlackRock's ETHA with $318.67 million in inflows. Fidelity's FETH attracted $144.9 million, while Grayscale's Mini Ether Trust reported $44.25 million in net inflows.
This extends the ether funds' positive streak to six consecutive days, during which they attracted $2.33 billion in net inflows. Spot ETH ETFs now hold $27.6 billion in net assets, representing roughly 4.8% of Ethereum's total market capitalization.
Nate Geraci, President of NovaDius Wealth, commented that the latest flows into ether ETFs mark a "notable shift" from bitcoin ETFs that dominated last year and earlier this year. Spot bitcoin ETFs recorded a rather modest $65.9 million worth of net inflows on Tuesday.
"Feel like spot ETH ETFs were severely underestimated simply [because] TradFi investors didn't understand ETH," Geraci said in an X post on Tuesday. "Now they're hearing 'backbone of future financial markets' and it's resonating."
Ether itself has also appreciated significantly in price, up 8.5% in the past day to trade at $4,667 , nearing its all-time high of $4,878.26 set in November 2021.
Ethereum's price is also boosted by the surging number of companies adopting a corporate treasury strategy based on the cryptocurrency. As of Monday, Ethereum treasury firms held around $8.9 billion worth of ETH, according to The Block's data.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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