BlackRock’s spot Ether ETF inflows $60.3M, the highest in 94 days
BlackRock, the world's largest asset manager, saw its biggest daily inflows into its ethereum exchange-traded fund (ETF) in 94 days.
BlackRock's iShares Ethereum Trust ETF ( ETHA ) inflowed $60.3 million on Nov. 8, the most since Aug. 6 when it gained $109.9 million, according to Farside data.
BlackRock's big revenue stream comes as ETH hovers near $3k.
BlackRock's day of significant inflows came as the price of Ether (ETH) hovered near the $3,000 price level for the first time since August and reached $2,971, according to CoinMarketCap data.
Ether trades at $2,970 at press time.
The significant gains came just days after Donald Trump was inaugurated as the 47th president of the United States, an event traders are linking to a surge in earnings.
Source: Pentoshi
It is seven days after ETHA accumulated a total of $84.3 million in revenue.
Meanwhile, the Fidelity Ethereum Fund (FETH) earned $18.4 million in daily revenue, the VanEek Ethereum Fund (ETHV) earned $4.3 million, and the Bitwise Ethereum ETF (ETHW) earned $3.4 million.
Cointelegraph's spot on BlackRock comes a day after the bitcoin ETF reported that it surpassed $1 billion in daily revenue for the first time since its launch in January.
IBIT revenues represented approximately 82% of the revenue flows of 11 US-listed Bitcoin ETFs on the day, which totaled $1.34 billion.
Ether posts biggest weekly gain in 6 months
Meanwhile, Cointelegraph reported that Ether posted its most significant weekly gain since May 2024.
While BTC's advance stalled over the past 24 hours, ETH's price hit a quarterly high, and the renewed price action triggered a 6% advance for the ETH/BTC chart.
RELATED: Ethereum Enters ‘Scarcity Mode', Paving Path for ETH Rally to $6K – Analyst
With Ethereum briefly leading Bitcoin (BTC) for the first time in months, the altcoin-BTC pair may be reversing the trend that grabbed the market's attention.
Meanwhile, Into The Cryptoverse founder Benjamin Cowen said in a Nov. 8 X post, “I think there is a strong upside for ETH/BTC.
Magazine: Asian Crypto Traders Profit From Trump Win, China's 2025 CBDC Deadline: Asia Express
