Cumulative investment flows into United States-based spot Ether ETFs have turned positive, marking a significant milestone in the development of cryptocurrency funds.
Growth of Ether ETF Investments
According to data from Farside Investors, the net flows into nine spot Ether ETFs totaled $135.9 million on November 12, following a record $295 million inflow the day before. The total net flows have now turned positive at $107.2 million for the first time since the funds launched in July.
Impact on Ether Market
The net inflows have surpassed $3.1 billion in outflows from Grayscale’s Ethereum Trust (ETHE). Amid the rising investments, BlackRock’s iShares Ethereum Trust (ETHA) saw its second-largest inflow since launch, with $131.4 million, only second to the $266.5 million inflow on July 23. Ether surged to top $3,400 on November 12, increasing its market cap to over $400 billion.
Analysts' Opinions
ETF Store president Nate Geraci remarked on the significance of the intersection of crypto and ETFs, describing it as the most intriguing area in asset management today: 'Remember, ETFs are simply a bridge for the mainstream to access crypto. Once that bridge is fully built, no going back.'
The record-breaking investment inflows into U.S. spot Ether ETFs highlight the growing interest of institutional investors in cryptocurrencies, indicating substantial prospects for this segment of the market.
