Ethereum Spot ETFs Reach Historic Milestone, Surpassing Bitcoin ETFs

Ethereum Spot ETFs Witness Record Inflows Amid ETH Price Surge

Ethereum spot ETFs have reached a historic milestone, recording a daily inflow of $332.92 million as of November 29, surpassing Bitcoin spot ETFs’ $320.01 million for the first time since inception. This development coincides with Ethereum’s price surge of over 3% in the last 24 hours, while Bitcoin showed minimal movement during the same period.

Ethereum ETF Performance Breakdown

The first spot Ethereum ETFs in the U.S. began trading on July 23. These ETFs, approved by the U.S. Securities and Exchange Commission, provide investors exposure to Ethereum’s price without needing to directly hold the cryptocurrency.

Here’s a look at how those ETFs are performing:

  • BlackRock’s iShares Ethereum Trust ETF, trading on NASDAQ, emerged as the top performer, boasting $250.39 million in daily net inflow. The fund’s cumulative net inflow stands at $2.1 billion, with net assets of $2.5 billion.
  • Grayscale Ethereum Mini Trust, listed on NYSE, recorded $3.39 million in daily inflows, contributing to its substantial cumulative net inflow of $420.15 million. The fund currently maintains a 0.35% ETH share with a market price of $33.84.
  • Fidelity Ethereum Fund, on the Cboe Exchange, secured $79.44 million in daily inflows, pushing its cumulative total to $824.23 million. The fund trades at $35.88 with a 0.22% ETH share.

Bitcoin ETFs Maintain Strong Presence

Despite being overtaken in daily flows, Bitcoin spot ETFs demonstrate strong performance. BlackRock’s iShares Bitcoin Trust ETF recorded $137.49 million in daily net inflow. IBIT’s cumulative net inflow has reached $31.74 billion, commanding a 2.51% BTC share.

Notably, Grayscale Bitcoin Trust showed no daily inflow, maintaining its cumulative position at -$20.52 billion.

Key Statistics

The total value traded for Ethereum ETFs reached $313.61 million, while Bitcoin ETFs recorded a higher volume of $2.51 billion. The cumulative total net inflow stands at $573.32 million for Ethereum ETFs and $30.70 billion for Bitcoin ETFs.

Spot Bitcoin ETFs in the U.S.

In the U.S., however, the SEC has not yet approved a spot Bitcoin ETF as of November 2024. The U.S. market currently only has futures-based Bitcoin ETFs, which started with the ProShares Bitcoin Strategy ETF (BITO) in October 2021.

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