According to
SoSoValue data, the total net inflow of Ethereum spot ETFs on November 11 was $295 million, setting a new record for the largest single-day net inflow, surpassing the previous record of $106 million set on the launch day of Ethereum spot ETFs on July 23.
The Ethereum spot ETF with the largest net inflow yesterday was Fidelity's FETH, with a net inflow of $115 million. FETH's total historical net inflow has now reached $673 million. The second-largest was BlackRock's ETHA, with a net inflow of $101 million, and ETHA's total historical net inflow has reached $1.538 billion.
Grayscale's Ethereum Mini Trust ETF ETH saw an inflow of $63.32 million, ranking third, while Bitwise's ETHW had a net inflow of $15.57 million. All other Ethereum spot ETFs had zero inflows.
So far, the total net asset value of Ethereum spot ETFs is $9.72 billion, with an ETF net asset ratio (market cap to Ethereum's total market cap) of 2.41%. The cumulative net outflow is $41.3 million, mainly due to the $3.14 billion net outflow of Grayscale's Ethereum spot ETF ETHE since its listing. Excluding ETHE's net outflow, the cumulative net inflow is close to $3.1 billion.
Ethereum expected to have a bullish outlook
CoinGecko data shows that Ethereum, which had been in a prolonged slump, has been continuously surging since the election of Republican presidential candidate Trump, currently trading at $3,365, a new high since July this year, with a 7-day gain of 38.5%.
BTC Markets cryptocurrency analyst Rachael Lucas
stated that Ethereum is catching up with its competitors like Bitcoin and SOL, which have outperformed it in this bull market. Ethereum has been lagging for most of this cycle, but is now starting to catch up, and the Ethereum spot ETFs are gaining momentum after a relatively slow start.
Rachael Lucas believes that Ethereum's staking rewards (currently unavailable through US Ethereum spot ETFs) will become more attractive to traditional investors as they start to consider Ethereum's bullish prospects, and there is no reason to believe ETH will not perform well.
ZX Squared Capital founder CK Zheng said that Ethereum may benefit from the incoming Trump administration, which is supportive of cryptocurrencies:
If the new Trump administration actively promotes blockchain technology and accelerates the digitalization of the financial industry, ETH and SOL will perform well in the coming months.
