Alice Morgan Photo Illustration of Investopedia. Getty Images
The Key Takeaways
- Ethereum ETFs experienced their biggest single-day inflows of their brief history Thursday, at $428.5 Million.
- Since their July launch, the total inflows to Ethereum ETFs has now exceeded $1 billion.
- Inflows for the bitcoin ETFs have also been massive, with the ETFs' collective holdings now larger than Bitcoin creator Satoshi Nakamoto's estimated stash.
Exchange-traded Funds (ETFs), which hold Ether (ETHUSD), recorded their highest day ever of net inflows on Thursday. This was just one day after Bitcoin (BTCUSD), which had crossed the $100,000 mark, fell back below this level.
Ether is the native crypto currency of the Ethereum platform and second in market value behind bitcoin. Bitcoin’s size and impact often influence the direction of cryptocurrency markets.
According to Farside Investors’ data, Ether ETFs saw net inflows of $428.5 millions, which is the largest single-day amount. With yesterday's inflows, ether ETFs have now crossed $1 billion in total inflows since their launch in July.
The Ether ETF inflows have increased after the US election
Investors are warming up to ether ETFs in the last few weeks. They may not be as popular as bitcoin spot ETFs, which were introduced in January.
Many of these crypto inflows are due to Donald Trump’s victory as winner of the U.S. Presidential election 2024. The president-elect will be expected to create a more favourable regulatory environment for the industry.
Since November 6, investors have poured a net $1.88 billion into these funds. The iShares Ethereum Trust (ETHA) of BlackRock, which received $1.2 billion of those inflows, was the biggest winner. Investors have poured a total of $1.88billion into these funds since Nov. 6. BlackRock’s iShares Ethereum Trust(ETHA), which received $1.2billion, was the biggest winner.
These numbers, according to the President of The ETF Store Nate Geraci are “not bad” Due to ETHE’s outflows of $3.5 billion and lack of stakes available for ETF holders.
Bitcoin ETFs' New Milestone Amid Price Volatility
Although bitcoin prices fluctuated wildly on Thursday, from an all-time high of $101,000 down to as little as $92,000 at one point, Bitcoin ETFs reached a major milestone.
According to Bloomberg senior ETF analyst Eric Balchunas, the combined bitcoin holdings of all spot ETFs surpassed those of Bitcoin creator Satoshi Nakamoto’s estimated holdings. The private keys to those cryptographic holdings are not known.
Ether has recently broken the $4,000 barrier, and bitcoin is still below $100,000.
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