BlackRock’s Spot Ether ETF Sees $60.3M in Inflows, the Highest in 94 Days

BlackRock, the world's largest asset manager, has reported its highest daily inflow into its spot Ether exchange-traded fund (ETF) in 94 days. On November 8, the iShares Ethereum Trust ETF (ETHA) saw $60.3 million in inflows, marking the largest single-day influx since August 6, when it recorded $109.9 million, according to Farside data.

This surge in inflows coincides with Ether (ETH) trading near the $3,000 mark, a price level it hasn't reached since August. As of the latest data from CoinMarketCap, Ether is hovering around $2,970,

demonstrating strong momentum for the asset.

ETH Price Surge Coincides with Trump’s Election Win

The timing of this significant inflow into BlackRock’s spot Ether ETF comes just days after Donald Trump’s victory in the U.S. presidential election. Market observers are linking this political event to the recent surge in Ether’s price, as traders respond positively to the new political climate. Over the past week, ETHA has accumulated a total of $84.3 million in inflows, reflecting growing investor interest in Ethereum amid the price rally.

Other Ethereum-focused funds have also seen notable inflows. Fidelity's Ethereum Fund (FETH) recorded $18.4 million in daily inflows, while VanEck’s Ethereum Fund (ETHV) saw $4.3 million, and Bitwise’s Ethereum ETF (ETHW) attracted $3.4 million.

BlackRock’s Spot Bitcoin ETF Breaks $1B in Inflows

The strong inflows into Ethereum funds come just one day after Cointelegraph reported that BlackRock's spot Bitcoin ETF, IBIT, surpassed $1 billion in daily inflows for the first time since its launch in January. IBIT accounted for nearly 82% of the total daily inflows into all 11 U.S.-listed spot Bitcoin ETFs, which together saw $1.34 billion in inflows.

Ethereum Posts Strongest Weekly Gains Since May 2024

In addition to the inflows into Ethereum ETFs, Ether itself has been on a tear. The cryptocurrency has experienced its biggest weekly gains since May 2024, with its price rising sharply as Bitcoin’s momentum slowed in the past 24 hours. Ether’s renewed price action helped it hit a quarterly high and triggered a 6% increase in the ETH/BTC trading pair, suggesting potential momentum shifts in the market.

Ethereum’s outperformance against Bitcoin has caught the attention of traders, sparking speculation that the altcoin may be setting up for a trend reversal against the leading cryptocurrency. As Ethereum price surges and institutional interest increases, the spotlight on ETH continues to grow.