BlackRock, the world’s largest asset manager, recorded the highest daily inflows into its spot Ether ETF in over three months. On Nov. 8, BlackRock’s iShares Ethereum Trust ETF (ETHA) saw inflows of $60.3 million, the largest since Aug. 6, when it collected $109.9 million, according to Farside data.
The surge in inflows coincided with Ether’s price nearing the $3,000 mark for the first time since August, reaching $2,971, as reported by CoinMarketCap. Currently, Ether is trading at $2,970. This increase in inflows follows the recent election of Donald Trump as the 47th president of the United States, a factor that some traders are associating with the recent spike.
BlackRock’s inflows came amid seven consecutive days of inflows into ETHA, totaling $84.3 million. Other Ether-focused ETFs also saw notable daily inflows, with the Fidelity Ethereum Fund (FETH) recording $18.4 million, VanEck Ethereum Fund (ETHV) receiving $4.3 million, and the Bitwise Ethereum ETF (ETHW) seeing $3.4 million.
The news comes on the heels of Cointelegraph’s report that BlackRock’s spot Bitcoin ETF exceeded $1 billion in daily inflows for the first time since its launch in January. Inflows for BlackRock’s Bitcoin ETF, IBIT, represented nearly 82% of the total $1.34 billion in inflows among the 11 U.S.-listed spot Bitcoin ETFs on the same day.
Cointelegraph also highlighted that Ether has posted its largest weekly gains since May 2024. While Bitcoin’s momentum has slowed over the past 24 hours, Ether’s price has reached a quarterly high, prompting a 6% increase in the ETH/BTC trading pair.
This price action has led analysts to consider a potential trend reversal, with Into The Cryptoverse founder Benjamin Cowen suggesting in a Nov. 8 post, “I think there is a solid chance the bottom is in for ETH/BTC.”
