The US market witnessed a surprising shift as spot Ether ETFs outpaced Bitcoin ETFs during Thanksgiving week.
Rise of Ether ETFs
According to data from SoSoValue, from Nov 22 to Nov 27, nine Ether ETFs recorded inflows of $224.8 million, significantly overshadowing the $32.2 million inflows across 12 Bitcoin ETFs.
Crypto Price Trends
While Bitcoin's price dipped by 2.7% over the past week, Ethereum surged by 5.3%. This rally is linked to Ethereum's partial legal victory involving Tornado Cash and optimism about regulatory changes under a potential Trump administration.
Regulatory Changes
Reports suggest that former SEC commissioner Paul Atkins, a crypto advocate, may replace current Chair Gary Gensler, igniting hopes for a pro-DeFi environment.
The surge in Ether ETF investments highlights growing investor confidence in Ethereum. While Bitcoin ETFs have achieved a record $6.2 billion in inflows for November, Ether ETFs also saw significant success, nearing $240.41 million in cumulative inflows.
