Last Friday, Ethereum (ETH) exchange-traded funds (ETFs) in the US market experienced a historic moment, with a record single-day inflow of funds. This phenomenon seems to indicate that Ethereum, as the second-largest cryptocurrency, is starting to catch up with Bitcoin (BTC) after a period of stagnation.
According to statistics from Farside Investors, last Friday, net inflows for nine Ethereum-related products reached $332.9 million, with BlackRock's iShares Ethereum Trust (ETHA) and Fidelity's Ethereum Fund (FETH) attracting $250 million and $79 million, respectively. This marks the fifth consecutive day of inflows, bringing the total for the week to $455 million, making it the second strongest single-week performance in history.
Notably, the inflow of funds into Ethereum ETFs even exceeded that of Bitcoin's spot ETF, which had an inflow of $320 million last Friday but experienced net outflows for the week.
This year, Ethereum's popularity among investors is not as high as Bitcoin, with prices and ETF inflows lagging relatively behind. However, with Trump's election victory, interest in alternative coins and decentralized finance (DeFi) applications has revived, leading to Ethereum's resurgence.
Additionally, the Chicago Mercantile Exchange (CME) saw its ETF futures open interest for institutional clients reach nearly $3 billion, marking a historical high and further demonstrating the market's positive attitude towards this asset.
Cryptocurrency trader Edward Morra mentioned that the strong inflow of funds into Ethereum ETFs indicates that ETH is the "most obvious catch-up trade in this cycle." Although Bitcoin has been fluctuating below $100,000, Ethereum has shown relative strength against Bitcoin. According to CoinDesk data, Ethereum's price reached a five-month high of over $3,700 on Saturday, and it surpassed BTC on both a weekly and monthly basis, although it still lags in annual performance.
