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U.S. Ether ETFs Post Record Inflows, Bitcoin ETFs Add Most in Two Weeks

The investment interest comes after ether added about 60% in a month.

Dec 6, 2024, 10:51 a.m.
Photo of bundles of dollars
Cash is flowing into ether and bitcoin spot ETFs as markets rally. (Shutterstock)

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.

Net inflows into U.S. spot ether (ETH) exchange-traded funds (ETFs) have picked up in the past five days, with Thursday seeing a record $428.5 million.

The inflow was dominated by BlackRock's ETHA, which collected a net $292.7 million, also a record. In the past five days, the ether ETFs have seen almost $800 million in net inflows, according to data from Farside Investors.

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The flows come after the second-largest cryptocurrency by market cap has risen about 60% in the past month. It's currently trading at around $3,900.

"Spot ether ETFs now with over $1.3 billion net inflows since July launch," said Nate Geraci, president of the ETF Store. "They have done this despite nearly $3.5 billion of outflows from ETHE, no staking allowed, no options trading, no in-kind creation/redemption, and very limited access to major wirehouses (plus Vanguard)." ETHE is Grayscale's Ethereum Trust.

The bitcoin (BTC) ETFs also recorded hefty inflows. The $766.7 million net accretion was the largest since Nov. 21.

The flows were dominated by BlackRock's iShares Bitcoin Trust (IBIT), which added $770.5 million in net inflows. IBIT continues to break all types of records. First, it crossed $50 billion in assets. Now, it has taken in $2.5 billion in five days, the most among any ETF, according to Eric Balchunas, a senior ETF analyst at Bloomberg.

"IBIT has taken in more dollars this year than all but 2 of the 2,800+ ETF launches over the past 10 years have taken in during their total lifetime," Geraci said.

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