According to Cointelegraph: Spot Ether exchange-traded funds (ETFs) in the U.S. recorded their largest inflows in six weeks on November 6, as ETH surged 10% amid crypto market gains following the U.S. presidential election. According to Farside Investors, nine recently launched spot Ether ETFs saw a combined inflow of $52.3 million. This marked the highest Ether ETF inflow since September 27, despite BlackRock’s iShares Ethereum Trust reporting net-zero inflows.
The majority of inflows came from Fidelity's Ethereum Fund, which gained $26.9 million, followed by Grayscale's Ethereum Mini Trust with $25.4 million. Meanwhile, the cumulative net inflows for all spot Ether ETFs remain at a negative $490 million, largely due to outflows from Grayscale’s ETHE fund, which has lost $3.1 billion in assets under management since converting to a spot ETF in July.
Spot Bitcoin ETFs See Significant Inflows, Totaling $622 Million
While Ether ETFs saw positive inflows, U.S. spot Bitcoin ETFs reported an even larger boost, with a total inflow of $621.9 million on November 6. This comes after three consecutive trading days of outflows. Leading the way was the Fidelity Wise Origin Bitcoin Fund, which recorded $308.8 million in inflows, its highest since June. Additional funds from Bitwise, Ark 21Shares, and Grayscale each brought in over $100 million.
Crypto markets responded favourably, with a 4% market cap increase over the past 24 hours, bringing the total to $2.64 trillion. Bitcoin continued its upward trend, reaching a new all-time high above $76,000 in late trading on November 6, while Ether surged to an intraday peak of $2,872 on November 7, its highest level since early August.
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