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Ethereum ETFs mark a historic milestone with a daily inflow of $332.92 million, surpassing Bitcoin ETFs amid rising ETH prices.
Latest data from SoSoValue It reveals that Ethereum (Ethereum) Spot ETFs recorded $332.92 million in daily net inflows as of November 29, outpacing Bitcoin (Bitcoin) Get $320.01 million ETFs for the first time since their inception.
This development coincides with Ethereum prices rising by more than 3% over the past 24 hours, while Bitcoin showed minimal movement during the same period.
ETF performance breakdown
The first Ethereum ETFs began trading in the US on July 23. These ETFs, approved by the US Securities and Exchange Commission, include products from well-known financial institutions such as BlackRock, Fidelity, and Grayscale, among others. It provides investors with exposure to the price of Ethereum without having to directly hold the cryptocurrency.
Here’s a look at how these ETFs performed today:
- BlackRock’s iShares Ethereum Trust ETF, which trades on the Nasdaq, emerged as the best performer. It boasts a daily net flow of $250.39 million. The fund’s cumulative net inflow is $2.1 billion, with net assets of $2.5 billion.
- Grayscale Ethereum Mini Trust, which is listed on the NYSE, recorded $3.39 million in daily inflows, contributing to a large cumulative net inflow of $420.15 million. The fund currently holds a 0.35% stake in ETH at a market price of $33.84.
- The Fidelity Ethereum Fund, on the Cboe exchange, received $79.44 million in daily inflows, bringing its cumulative total to $824.23 million. The fund is trading at $35.88 with a 0.22% stake in ETH.
Bitcoin ETFs maintain a strong presence
Despite being outpaced in daily inflows, Bitcoin ETFs showed strong performance. BlackRock’s iShares Bitcoin Trust ETF recorded a daily net inflow of $137.49 million. The cumulative net inflow of IBIT reached $31.74 billion, accounting for a 2.51% share of BTC.
The Fidelity Wise Origin Bitcoin Fund, or FBTC, followed with a daily inflow of $106.46 million, while the Bitwise Bitcoin ETF, or BITB, took in $26.54 million.
Notably, Grayscale Bitcoin Trust showed no daily inflow, maintaining its cumulative position at -$20.52 billion.
The total traded value of Ethereum ETFs reached $313.61 million, while Bitcoin ETFs recorded a higher volume of $2.51 billion. The total cumulative net inflow is $573.32 million for Ethereum ETFs and $30.70 billion for Bitcoin ETFs.
The first Bitcoin ETF has been approved and launched in Canada by Purpose Investments. It began trading on the Toronto Stock Exchange (TSX) under the ticker PTCC on February 18, 2021. This was a significant milestone, as it marked the world’s first ETF to directly hold Bitcoin.
However, in the US, the SEC has not yet approved a spot Bitcoin ETF as of November 2024. There are currently only futures-based Bitcoin ETFs in the US market, which started with the ProShares Bitcoin Strategy ETF (BITO) in October 2021.
