Investors hold a record $432m in 9-day inflows into Ether ETFs
Spot Ether exchange-traded funds in the United States had their biggest single day in history and the ninth consecutive trading day of positive inflows for the cryptocurrency.
The nine spot Ether ETFs saw $431.5 million in inflows on Dec. 5, according to preliminary data from Farside Investors and decentralized news aggregator Tree News.
It was the biggest daily gain since the fund's July 23 launch, surpassing the record high of $333 million set on November 29. Ether (ETH) ETFs have been net positive on a daily basis since November 21st and accumulated more than $1.3 billion. In the last two weeks.
The massive earnings day brought total net income to more than $1 billion, a figure that has been steadily increasing since then, which has left Greyscale Ethereum Trust bleeding.
BlackRock's iShares Ethereum Trust took the lion's share with a record $295.7 million, bringing its revenue to $2.3 billion.
Fidelity's Ethereum fund reached $113.6 million on the day, while the Grayscale Ethereum Mini Trust added $30.7 million and the Bitwise Ethereum ETF added $6.6 million.
Grayscale Ethereum Trust recorded an inflow of $15.1 million, while the remaining funds recorded zero inflows.
Source: Anthony Sassano
Meanwhile, Bitcoin (BTC) ETFs in the United States continued to see strong momentum with net inflows of $747.8 million for 11 funds on December 5.
BlackRock's iShares Bitcoin Trust was responsible for the majority of the figure, pouring in about $751.6 million, while Greyscale's Bitcoin Trust pulled in $148.8 million, according to CoinGlass.
The BlackRock ETF has now seen nearly $2.5 billion in inflows over the past five trading days, bringing its total inflows since its inception to $34 billion.
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Ether ETF revenues are up as spot ETH prices have gained 16% over the past two weeks.
The asset hit an eight-month high of $3,946 on December 5, according to CoinGecko.
Analysts say Ether's strength against Bitcoin – or the ETH/BTC ratio – should remain higher after a stretch of underperformance over the next six to 12 months.
According to TradingView, the ratio is currently 0.04, up 14.5% over the past month.
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