According to SoSoValue data, the total net inflow of Ethereum spot ETFs on November 11 was $295 million, setting a record for the largest single-day net inflow in history, breaking the previous record of $106 million set on the day the Ethereum spot ETF was launched on July 23.
The Ethereum spot ETF with the highest net inflow yesterday was Fidelity's FETH, with a net inflow of $115 million. Currently, FETH has a historical total net inflow of $673 million, followed by BlackRock's ETHA, with a net inflow of $101 million and a historical total net inflow of $1.538 billion.
Grayscale's Ethereum Mini Trust ETF ETH entered the top three with an inflow of $63.32 million, while Bitwise's ETHW had a net inflow of $15.57 million, and all other Ethereum spot ETFs had zero inflow.
So far, the total net asset value of Ethereum spot ETFs is $9.72 billion, with an ETF net asset ratio (market cap relative to Ethereum's total market cap) of 2.41%. The historical cumulative net outflow is $41.3 million, mainly influenced by the Grayscale Ethereum spot ETF ETHE, which has seen a net outflow of $3.14 billion since its listing. If ETHE's net outflow is excluded, the cumulative net inflow is nearly $3.1 billion.
Ethereum is expected to have a bullish outlook.
Coingecko data shows that Ethereum, which had previously been sluggish, has continued to soar since the election of U.S. Republican presidential candidate Trump, currently reported at $3,365, reaching a new high since July of this year, with a recent 7-day increase of 38.5%.
Rachael Lucas, a cryptocurrency analyst at BTC Markets, stated that Ethereum is catching up to Bitcoin, SOL, and other competitors that have outperformed it in this bull market. For most of this cycle, Ethereum has been lagging behind, but it is now starting to gain momentum. After a relatively slow start, the Ethereum spot ETF is gaining traction.
Rachael Lucas believes that Ethereum's staking returns (which are currently not accessible through the U.S. spot Ethereum ETF) will become more attractive to traditional investors as they begin to consider Ethereum's bull market prospects, thus there is no reason to believe that ETH will not perform well.
CK Zheng, founder of ZX Squared Capital, stated that Ethereum may benefit from the incoming Trump administration, which supports cryptocurrencies.
If the new Trump administration actively promotes blockchain technology and accelerates the digitization of the financial industry, ETH and SOL will perform well in the coming months.
