As a seasoned researcher with a keen eye for crypto trends, I must say that Ethereum’s recent surge to $3,711 is nothing short of captivating. With my first investment in ETH back in 2015 when it was barely a dollar, I can’t help but feel a sense of nostalgia and excitement at the same time.
Ethereum (ETH) is back in the spotlight as its price has seen a significant surge, climbing to $3,711 as of 11:30 p.m. on November 30. This month’s 47.40% increase in the value of ETH seems to have sparked renewed interest in US-listed spot Ethereum ETFs, which until November had largely been overshadowed by spot Bitcoin ETFs.
Currently, Ethereum boasts a massive market value of approximately $447 billion, placing it as the second most valuable cryptocurrency in terms of market capitalization. In the past day, its trading volume has surged to an impressive $32 billion, indicating strong liquidity and active market participation. The recent price rise is part of a broader recovery, with Ethereum having risen 321.02% from its lowest point of $881.56 on June 18, 2022. However, it remains 23.76% below its all-time high of $4,868, which was reached on November 10, 2021.
On November 29, 2024, U.S.-traded Ethereum ETFs experienced a daily inflow of approximately $332.92 million, demonstrating increasing investor interest from both institutions and retail buyers. This influx brings the total cumulative inflow to an impressive $573.32 million, suggesting a consistent long-term trend. Moreover, these ETFs now hold a combined value of $11.04 billion, which equates to 2.55% of Ethereum’s entire market capitalization.
The data underscores the performance of diverse Ethereum Exchange-Traded Funds (ETFs), including BlackRock’s ETHA, which is traded on NASDAQ. In one day, ETHA experienced a net inflow of approximately $250 million and a total cumulative inflow of around $2.1 billion, managing assets worth $2.5 billion. Its current market value is set at $27.19, with a daily price drop of 1.49%.
Yesterday, Fidelity’s FETH, traded on CBOE, experienced a daily inflow of approximately $79 million and a total inflow of around $824 million over time. Its net assets currently stand at $952 million, with a market value of $35.88 per share and a decrease of 1.32% for the day. On the other hand, Grayscale’s ETHE, listed on NYSE, saw a daily inflow of about $3.4 million and an overall inflow of around $420 million. Its net assets are now $1.54 billion, with each share priced at $33.84 and a decrease of 1.28% for the day.
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2024-12-01 02:59