Inflows into Ethereum spot ETFs set new record and overtake Bitcoin funds

According to SoSoValue, November 29 was a historic day for Ethereum. The inflow of funds into spot ETFs reached $333 million, which became a record and for the first time exceeded the same figure for Bitcoin ($320 million). The main driver was the BlackRock ETF ETHA, which attracted $250 million during the day. Bitcoin, despite its usual status as the market’s flagship, lost to Ethereum this time. On the same day, the largest spot Bitcoin ETF, BlackRock IBIT, recorded inflows of $137 million. Historically, IBIT remains the leader with total inflows of $31.738 billion, but Ethereum has begun to close the gap. The total net assets of spot Bitcoin ETFs amounted to $105.279 billion, which corresponds to 5.47% of the total cryptocurrency market capitalization. However, inflows into Ethereum ETFs continue to grow, and the total amount of historical inflows has already reached $2.103 billion. Experts believe that Ethereum is becoming more attractive to institutional investors due to its versatility. In addition to cryptocurrency transactions, Etherium supports smart contracts and works as the basis for many decentralized applications. These factors make it a sought-after asset amid growing interest in Web3.

BlackRock continues to set the tone in the spot ETF market. ETHA has become the main mechanism for raising funds in Ethereum, which shows the willingness of large funds and investors to invest in altcoins. Given the support from such giants, the growth of interest in Ethereum may accelerate.

Record inflows into ether ETFs indicate structural changes in the crypto market. If the trend continues, Ethereum could strengthen its position on par with Bitcoin. That said, questions remain as to whether the market will be able to handle the growing load and whether Etherium will remain resilient to high volatility.