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The significant daily inflow into BlackRock’s spot Ether ETF comes as Ether has seen its biggest weekly gains since May 2024.
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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.
The significant inflows come just days after Donald Trump was declared the 47th president of the United States, an event traders have been linking to the spike in inflows.
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.
Related: Ethereum enters ‘scarcity mode,’ paving the way for ETH rally to $6K — Analyst
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.”
Magazine: Asian crypto traders profit from Trump’s win, China’s 2025 CBDC deadline: Asia Express
This is a developing story, and further information will be added as it becomes available.
This article first appeared at Cointelegraph.com News
