US spot Ethereum ETFs recorded their largest daily inflows ever on November 11. The crypto market’s momentum accelerated following former President Donald Trump’s 2024 election victory. Spot Ether ETFs saw $294.9 million in inflows in just 24 hours, surpassing the previous launch day of $106.6 million.$ETH
Fidelity Ethereum Fund (FETH) led the sector with $115.5 million in inflows, while BlackRock’s iShares Ethereum Trust ETF (ETHA) received $100.5 million in investment. These two funds attracted the majority of investments in spot Ether ETFs in the US, demonstrating the interest of new investors in these instruments. Grayscale Ethereum Mini Trust ETF (ETH) came in third with $63.3 million in inflows. Bitwise Ethereum ETF (ETHW) received $15.6 million in investment. No inflows were observed in other US spot Ether ETFs.
The price of Ether increased by 8.4% on November 11, reaching $3,384. This increase, which parallels the 10% increase in the cryptocurrency market in general, has increased investors’ interest in spot Ether ETFs. This development is considered an indication that Ethereum is starting to recover in its market performance, which has been lagging behind for a long time.
BTC Markets crypto analyst Rachael Lucas stated that with this rise, Ether is trying to get closer to other major market leaders Bitcoin and Solana. Lucas emphasized that the increasing demand for spot Ether ETFs could play an important role in Ethereum’s appreciation.
