BlackRock, the world’s largest asset manager, has seen the highest daily inflows into its spot Ether exchange-traded fund (ETF) in 94 days.
BlackRock’s iShares Ethereum Trust ETF (ETHA) clocked $60.3 million in inflows on Nov. 8, the highest amount since Aug. 6, when it amassed $109.9 million, according to Farside data.
BlackRock’s large inflows come amid ETH hovering near $3K
BlackRock’s significant inflow day came amid Ether’s (ETH) price hovered near the $3,000 price level, reaching a top of $2,971, according to CoinMarketCap data.
Source: Pentoshi
It follows seven days of ETHA collectively amassing a total of $84.3 million in inflows.
Meanwhile, Fidelity Ethereum Fund (FETH) notched $18.4 million in daily inflows, VanEck Ethereum Fund (ETHV) witnessed $4.3 million, and Bitwise Ethereum ETF (ETHW) saw $3.4 million.
It comes only a day after Cointelegraph reported that BlackRock’s spot Bitcoin ETF surpassed $1 billion in daily inflows for the first time since its launch in January.
IBIT’s inflows represented almost 82% of inflows generated by the 11 United States-listed spot Bitcoin ETFs on the day, which amounted to $1.34 billion in total.
Ether posts biggest weekly gains in 6 months
Meanwhile, Cointelegraph also reported that Ether has exhibited its most significant weekly gains since May 2024.
While BTC’s momentum has stalled over the past 24 hours, ETH’s price reached a quarterly high of $2,956, and the renewed price action triggered a 6% uptick for the ETH/BTC chart.
With Ethereum briefly leading Bitcoin (BTC) for the first time in months, the altcoin-BTC pair has caught the market’s attention for a potential trend reversal.
Meanwhile, Into The Cryptoverse founder Benjamin Cowen stated in a Nov. 8 X post that “I think there is a solid chance the bottom is in for ETH/BTC.”
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This is a developing story, and further information will be added as it becomes available.
