<img src="https://cryptoslate.com/wp-content/uploads/2024/11/ethereum-etf-1.jpg” />
Spot ethereum (eth) exchange-traded funds (ETFs) racked up $295.5 million in inflows on Nov. 11, their highest daily positive net flow since their launch, taking them $29 million off net flows positive.
According to Farside investors <a target="_blank" href="https://farside.co.uk/ethereum-etf-flow-all-data/”>dataFidelity's FETH led the inflows, registering $115.5 million, while BlackRock's ETHA recorded the second largest inflow with $101.1 million.
Grayscale's ethereum Mini Trust recorded the third-highest inflow volume, with $63.3 million captured during the trading day.
sunny days ahead
Eric Balchunas, Senior ETF Analyst at Bloomberg highlighted that Grayscale's ethereum Trust (ETHE) <a target="_blank" href="https://x.com/EricBalchunas/status/1856346407856112115″>did not register any capital outflow over the past six days, which he considered a sign that ETHE unlocks have ended.
He added:
“Sunny days are ahead, although they are still several miles away from btc ETFs.”
Balchunas added that while ethereum ETFs still lag behind bitcoin (btc) ETFs, their individual performance is noteworthy. ETHA, for example, ranks as the sixth largest ETF launch by inflows in 2024, among more than 600 new ETFs.
Institutional support drives growth
ETF Store CEO Nate Geraci noted a notable trend in ethereum ETF results following the US election, with over $500 million in inflows in just four days. A key factor behind this increase is growing institutional adoption, such as the recent allocation of the Michigan Retirement System.
In its latest 13-F filing, Michigan State Pension Fund revealed an $11 million investment in Grayscale ethereum ETF during the third quarter, making it the first public pension fund to add ethereum to your wallet. Notably, the Michigan fund now owns more Ether than bitcoin, with $7 million in bitcoin exposure as of September 30.
Balchunas also suggested that the introduction of options trading for ethereum ETFs could accelerate inflows, attracting larger institutional investors. However, progress on this front may be slow.
The United States Securities and Exchange Commission (SEC) recently delayed its decision on this matter, and some analysts, including Bloomberg James Seyffartpredicting that a final decision could take until April 2025.
