Ethereum spot ETFs rallied on Friday, driven by a record-breaking surge in inflows. According to market analysis platform Spot On Chain, US Ethereum spot ETFs have surpassed $1 billion in cumulative net inflows after just 96 trading days.
The surge in ETF inflows has been fueled by a massive $434.6 million inflow on December 5th, marking the largest single-day inflow since the launch of these products. BlackRock's ETHA led the charge, adding 257,300 ETH (approximately $946.6 million) during a nine-day streak of consistent net inflows – the longest such period since these ETFs were introduced.
This Ethereum ETF inflow surge aligns with the broader price rally in the crypto market, particularly for Ethereum (ETH). As institutional investors continue to pile into Ethereum-based ETFs, the demand for the underlying asset is likely to increase, driving up the price of the iShares Ethereum Trust ETF and other related products.
Comments