Record Inflows for Spot Ether ETFs as Altcoin Momentum Grows
Spot Ether exchange-traded funds (ETFs) in the U.S. hit a milestone on Nov. 29, recording their highest-ever daily inflows. A total of $332.9 million flowed into nine Ether ETFs, surpassing the previous record of $295.5 million set on Nov. 11 by $37.4 million.
BlackRock Leads the Surge
BlackRock, the world’s largest asset manager, accounted for the bulk of these inflows, contributing $250.4 million through its iShares Ethereum Trust (ETHA). Since its July 23 launch, the ETHA has seen over $2 billion in inflows, according to Nate Geraci, president of ETF Store.
ETH ETFs Surpass BTC ETFs
Ether ETFs outpaced Bitcoin ETFs for the first time on a day when both recorded inflows. While Bitcoin ETFs attracted $320 million on Nov. 29, Ether ETFs exceeded that figure by $2.9 million. This marks a shift in investor sentiment, signaling growing interest in Ethereum over Bitcoin.
Market observers suggest this trend could indicate the beginning of an
“altcoin rotation.”
Felix Hartmann, founder of Hartmann Capital, commented that Wall Street appears to be diversifying its crypto investments, with Ethereum gaining traction.
Pseudonymous crypto trader Pentoshi noted that Ether flows are picking up, absorbing seller pressure, and paving the way for sustained growth.
Ether ETFs Maintain Positive Momentum
In recent weeks, Ether ETFs have consistently recorded inflows, even as Bitcoin ETFs saw occasional outflows. Between Nov. 22-27, Ether ETFs tallied $224.9 million in net inflows compared to Bitcoin ETFs’ $35.2 million.
The surge in Ether ETF investments coincides with positive developments for Ethereum’s decentralized finance (DeFi) ecosystem, including a recent legal win in a U.S. court.
As investor interest in Ethereum rises, this record-breaking day highlights the growing appeal of altcoins in the crypto landscape.
Disclaimer: This content does not constitute trading or investment recommendations. It’s essential to conduct your own research before purchasing any cryptocurrency or investing in any services.
