As a seasoned researcher with over two decades of experience in the financial industry, I have witnessed numerous market trends and shifts. However, the recent surge in Ether ETFs and spot Bitcoin ETFs has caught my attention more than ever before. The back-to-back positive inflows into Ether ETFs, totaling a remarkable $107.2 million since July, is a testament to growing investor confidence in cryptocurrencies.
On the 12th of November, BlackRock’s iShares Ethereum Trust (ETHA) experienced its second-largest increase in total investments since it was launched in July. This influx follows a significant investment of $295 million on the 11th of November, as reported by Farside Investors. In simpler terms, a large amount of money flowed into the iShares Ethereum Trust on two consecutive days, with a total of approximately $431.9 million being invested in nine Ether Exchange-Traded Funds (ETFs) on the 11th and 12th of November.
In other words, a series of consecutive inflows into Ether ETFs has led to a significant turning point, with total net investments reaching $107.2 million for the first time since July. This important milestone underscores increasing investor trust and a strong rebound from prior outflows. Of particular note, inflows have counterbalanced approximately $3.1 billion in outflows from Grayscale’s Ethereum Trust (ETHE), which experienced a loss of $33.2 million.
BlackRock’s accomplishments are quite significant. The iShares Ethereum Trust (ETHA) recently attracted a substantial investment of $131.4 million, which is its second-largest intake since debut, trailing only the $266.5 million inflow on July 23. Notably, Nate Geraci, president of ETF Store, commended BlackRock on social media platform X (previously Twitter), recognizing it as one of the top six best ETF launches in 2024. To date, this fund has accumulated a total inflow of $1.67 billion without a single day of net outflows.
Ether ETFs Experience Five-Day Inflows
Additional Exchange-Traded Funds (ETFs) played a part in reinforcing the upward trend as well. The Bitwise Ethereum ETF (ETHW) accumulated $17 million, while Grayscale’s Ethereum Mini Trust (ETH) gained $12.7 million. Ark Invest and VanEck’s funds experienced modest inflows, adding to the overall favorable sentiment. This marks the fifth consecutive day of inflows for Ether ETFs, with approximately $650 million invested in these funds during the past week.
Geraci highlighted the increasing significance of cryptocurrencies in the realm of asset management. On his platform X, on November 13th, he underlined this point.
“nothing more interesting in asset management right now than the intersection of crypto and ETFs.” He further noted, “ETFs are simply a bridge for the mainstream to access crypto. Once that bridge is fully built, no going back.”
Optimism is not limited to Ether ETFs alone. Spot Bitcoin ETFs also enjoyed a strong day, with aggregate inflows totalling $817.5 million on November 12, according to Farside Investors. The surge in ETF flows coincides with a significant rally in Ethereum’s price, which has increased by 32% over the past week to surpass $3,400 on November 12. Within just five days, Ethereum’s market cap was above $400 billion this week.
Political Shift Fuels Ether Price Surge
The surge in Ether’s value is partially due to the improved cryptocurrency business climate in the U.S., resulting from Donald Trump’s pledges for crypto transactions in 2025. This political change has brought a sense of hope to the market, causing Ether’s price to rise by more than 37% within the last seven days and reach prices not seen since July 24.
The surge in long Ethereum positions in the futures market has significantly contributed to this upward trend. According to CryptoQuant, a company that provides insights into cryptocurrency markets, the total open interest for Ethereum derivatives climbed from 8.8 million ETH on November 5 to a record high of 9.7 million ETH by November 13.
As a crypto investor, I’m thrilled to share my excitement about Ethereum (ETH) as it sets a new All-Time High (ATH) on futures Open Interest. This surge suggests that the passion for Ethereum, the leader among altcoins, is back in full swing. It’s evident that the market can’t overlook ETH’s potential. In agreement with Trader Alan, the increasing open interest also signifies a rise in liquidity and market involvement, a positive indicator indeed. As for me, I remain confident in Ethereum’s growth trajectory.
There are signs suggesting that Ethereum may be making a return, as increased activity points towards a potential shift in the market.
The positive outlook towards Ethereum is reinforced by statistics from the blockchain itself, as there’s been an increase in users engaging with the Ethereum network. Data from CryptoQuant reveals a 26% jump in daily active addresses (DAA) on the Ethereum network, moving from 306,751 on November 5 to 388,350 on November 13. This rise in active addresses indicates an uptick in Ether token transactions, implying higher user activity and wider acceptance of Ethereum.
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2024-11-15 13:21