- Cumulative inflows into Ethereum ETFs turned positive for the first time since July.
- Blackrock’s ETHA ranked among the top ETF launches this year.
On November 12, Ethereum (ETH) ETFs innovated, finally pushing total net flows into positive territory – for the first time since their launch.
Source: SoSo Value
Data of SoSo Value revealed a daily net inflow of $135.92 million, bringing cumulative inflows to $94.62 million.
Trading activity also increased, with a total value of $582.18 million traded and total net assets climbing to $9.67 billion.
Of the nine ETFs, five recorded inflows. Meanwhile, only Grayscale Ethereum Trust (ETHE) saw outflows, with the remaining funds showing no new inflows.
Leaders speak out
The latest development has caught the attention of industry leaders on X (formerly Twitter).
ETF Shop President Nate Geraci highlighted net positive flows mark an important milestone for ETH ETFs given that they have,
“Overcoming $3.2 billion in ETHE outflows.”
Additionally, Geraci sharp that 19 of the top 50 ETF launches this year are linked to Bitcoin (BTC)ETH or MicroStrategywith 12 among the first 18, an impressive figure from a total of 610 launches.
Additionally, iShares’ Ethereum Trust (ETHA) ranked 6th among the best ETF launches in 2024.
Bankless co-founder Ryan Sean Adams also commented on development. He noted that ETHE’s dominant outflows essentially offset any upward pressure from ETFs.
However, with inflows turning positive for the first time, it could signal a change.
Adams even predicted that this change would be a
“Recipe for a $10,000 ETH Rocket.”
Ethereum ETFs Hit Record Inflows
This latest milestone comes a day after ETFs had a record day on November 11, seeing $295 million in inflows.
This influx, led by industry giants like Fidelity and BlackRock, is nearly triple the previous peak of $106.6 million recorded on launch day.
Eric Balchunas, senior ETF analyst at Bloomberg, note on X that the ETFs were,
“Trending in the right direction. »
The analyst further anticipated a positive trend for ETFs, stating:
“Sunny days ahead, although BTC ETFs are still several miles behind.”
How are BTC ETFs doing?
In the meantime, BTC ETF also broke their own record. Balchunas revealed on X, Bitcoin ETFs crossed the $90 billion mark in assets under management, following a substantial increase of $6 billion.
This included $1 billion in new capital flows and $5 billion in market appreciation. This push means that Bitcoin ETFs were now 72% on the path to overtaking gold ETFs in terms of total assets.
Source: Éric Balchunas/X
Another sign of request, IBIT reached $1 billion in trading volume in just 25 minutes, faster than the day before, when it broke an all-time record.
Balchunas described the sustained interest in BTC ETFs as a “feeding frenzy” that shows no signs of slowing down.
