ethereum spot ETFs mark historic milestone with daily inflow of $332.92 million, outperforming bitcoin ETFs amid eth price surge.
The latest data from <a target="_blank" href="https://sosovalue.com/assets/etf/us-btc-spot” target=”_blank” rel=”nofollow”>SoSoValue reveals that ethereum (eth) spot ETFs have recorded $332.92 million in daily net inflows through November 29, surpassing bitcoin (btc) spot ETFs' $320.01 million for the first time since its creation.
This development coincides with ethereum's price rising by more than 3% in the last 24 hours, while bitcoin showed minimal movement during the same period.
<img decoding="async" width="544" height="218" src="https://crypto.news/app/uploads/2024/11/image-47.png” alt=”ethereum Overtakes bitcoin in Daily Net Flows for Spot ETFs – 1″/>
ethereum ETF Performance Breakdown
The first ethereum spot ETFs in the US began trading on July 23. These ETFs, approved by the U.S. Securities and Exchange Commission, include products from well-known financial institutions such as BlackRock, Fidelity, and Grayscale, among others. They provide investors with exposure to the price of ethereum without needing to directly own the cryptocurrency.
Below is how those ETFs are performing today:
- BlackRock's NASDAQ-listed iShares ethereum Trust ETF emerged as the top performer. It has $250.39 million in daily net income. The fund's cumulative net inflow is $2.1 billion, with net assets of $2.5 billion.
- NYSE-listed Grayscale ethereum Mini Trust recorded $3.39 million in daily inflows, contributing to its substantial cumulative net inflow of $420.15 million. The fund currently holds a 0.35% eth stake with a market price of $33.84.
- Fidelity ethereum Fund, on Cboe Exchange, saw $79.44 million in daily inflows, bringing its cumulative total to $824.23 million. The fund is trading at $35.88 with a 0.22% eth stake.
bitcoin ETFs maintain a strong presence
Despite being outperformed in daily flows, bitcoin spot ETFs demonstrate strong performance. BlackRock's iShares bitcoin Trust ETF recorded $137.49 million in daily net inflows. IBIT's cumulative net inflow has reached $31.74 billion, representing a 2.51% btc share.
Fidelity Wise Origin bitcoin Fund, or FBTC, followed with $106.46 million in daily inflows, while the Bitwise bitcoin ETF, or BITB, earned $26.54 million.
Notably, Grayscale bitcoin Trust showed no daily inflows, maintaining its cumulative position at -$20.52 billion.
The total traded value of ethereum ETFs reached $313.61 million, while bitcoin ETFs recorded a higher volume of $2.51 billion. The total cumulative net inflow amounts to $573.32 million for ethereum ETFs and $30.70 billion for bitcoin ETFs.
The first bitcoin spot ETF was approved and launched in Canada by Purpose Investments. It began trading on the Toronto Stock Exchange (TSX) under the symbol BTCC on February 18, 2021. This was a major milestone as it marked the world's first ETF to directly own bitcoin.
However, in the US, the SEC has not yet approved a spot bitcoin ETF as of November 2024. Currently, the US market only has futures-based bitcoin ETFs, which started with the ETF from ProShares bitcoin Strategy (BITO) in October 2021.
