Amid ongoing interest in cryptocurrencies, Ethereum ETFs in the US have reached a significant net inflow milestone.
Flows and Records
US Spot Ethereum ETFs have surpassed the $4 billion net inflow milestone as of June 23, with daily inflows of $100.7 million. These funds began trading on July 23, 2024. Despite geopolitical tensions in the Middle East, the high inflow activity indicates continued investor confidence.
Market Leaders
Fidelity’s FETH fund took the lead with $60.5 million in inflows, while BlackRock’s ETHA ETF, typically leading, came in second with $25.8 million. Grayscale's ETHE and its ETH mini product saw inflows of $9 million and $5.4 million respectively. Other ETFs reported no movement.
Comparison with Bitcoin ETFs
In comparison, U.S. spot Bitcoin ETFs saw net inflows of $34.7 billion in the first 11 months since their launch, which has now increased to $47.3 billion. On June 23, there was a net inflow of $350.8 million into Bitcoin ETFs, indicating a total inflow of $2.8 billion over the last 10 days.
Thus, despite the challenges faced in the market, Ethereum ETFs continue to show strong results and growing popularity among investors.
