U.S.-based spot Ethereum ETFs on Friday logged their highest single-day inflows since trading began in July of this year, adding nearly $333 million in value following the market's closure on Thursday for the American holiday of Thanksgiving.
The gains were largely isolated to two funds: BlackRock's ETHA, which added over $250 million in value alone, and Fidelity's FETH, which logged about $79 million, according to data from SoSoValue. Grayscale's ETH fund added $3.4 million, while no other funds logged significant inflows or outflows.
The record day came after U.S. stock exchanges were closed on Thursday for Thanksgiving and follows a nearly 40% gain in ether's price over the past month. Ethereum's price is currently hovering slightly below $3,700 after a 1.8% gain over the past twenty-four hours, according to The Block's Ethereum Price Page.
With Ethereum's increase in price adding to the record inflows, the funds now hold more in value than they ever have before: over $11 billion, according to SoSoValue data. Over half that sum is held in funds managed by Grayscale, with $5.37 billion in its ETHE fund and $1.54 in its ETH fund. BlackRock's ETHA holds $2.10 billion worth of ether, the second-highest sum, while Fidelity's FETH, in fourth place, holds about $952.33 million in net asset value.
The funds logged gains of over $37 million more than the second-highest daily inflows on record: $295.5 million on November 10. Before this month, the record stood at $106.8 million worth of single-day inflows, achieved on the funds' very first day of trading on July 22 of this year. July 22 was also the last time before Monday of last week that the funds held more than $10 billion in net asset value.
Ethereum also recently reclaimed USDT dominance, with more of the stablecoin hosted on the network than Tron for the first time since 2022, following a year-to-date increase of nearly 62% in the supply of the world's most popular stablecoin. U.S.-based spot Bitcoin ETFs also recently logged record high inflows.
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