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ETH Spot ETFs Reach Record High of $855 Million, BlackRock ETHA Experiences $523 Million Inflows
Ethereum spot exchange-traded funds (ETFs) are experiencing remarkable investor interest, with a record net inflow of $855 million during the week of December 9–13, 2024, as reported by Sosovalue.
Leading this influx, BlackRock’s ETH ETF (ETHA) contributed $523 million of the weekly inflows, while Fidelity’s FETH followed with $259 million. Grayscale’s ETHE also garnered significant investor interest during this timeframe.
Ethereum spot ETF recorded a net inflow of $855 million in the last trading day (December 9 to December 13, US Eastern Time), achieving a record high for weekly net inflow. Blackrock ETF ETHA had a weekly net inflow of $523 million, and Fidelity ETF FETH had a weekly net inflow of $259… pic.twitter.com/HOO1pE6nsr
— Wu Blockchain (@WuBlockchain) December 16, 2024
The substantial inflows into spot ETH ETFs indicate increasing institutional confidence in Ethereum. Daily data from December 13 reveal that ETHA attracted $9.5 million in inflows, followed by ETHE with $7.2 million and FETH at $6.86 million.
ETH Rally? Supply-Demand to Propel ETH Beyond $5K
Ethereum is currently trading at $3,965 on Monday, reflecting a 1.8% increase over the past 24 hours.
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The second-largest cryptocurrency by market capitalization may be on the verge of a rally, with the $5,000 threshold within reach, driven by robust supply-demand dynamics and increasing network activity, according to analysis from CryptoQuant.
Several indicators suggest that Ethereum is set for a rally. The CryptoQuant report points out that ETH’s realized price, a valuation metric representing the average purchase price of ETH holdings, currently indicates an upper price limit of $5,200.
Grayscale ETHE ETF Ranks Fourth in Top 25 by Asset
In light of the surge in cryptocurrency investment following the approval of Bitcoin ETFs in January 2024, the US SEC authorized Ethereum ETFs for trading in July 2024.
The Grayscale Ethereum Trust ETHE has achieved fourth place in the Top 25 by Asset with $5.37 billion, launched by Grayscale Advisors on the NYSE, according to reports from ETFGI.
The post ETH Spot ETFs Hit ATH of $855M, BlackRock ETHA Sees $523M Inflows appeared first on Cryptonews.
