Ethereum spot ETFs mark a historic milestone with a $332.92 million daily inflow, surpassing Bitcoin ETFs amid the ETH price surge.
The latest data from SoSoValue reveals that Ethereum (ETH) spot ETFs have recorded $332.92 million in daily net inflows as of Nov. 29, outpacing Bitcoin (BTC) spot ETFs’ $320.01 million for the first time since inception.
This development coincides with Ethereum’s price surge of over 3% in the last 24 hours, while Bitcoin showed minimal movement during the same period.
The first spot Ethereum ETFs in the U.S. began trading on July 23. These ETFs, approved by the U.S. Securities and Exchange Commission, include products from well-known financial institutions like BlackRock, Fidelity and Grayscale, among others. They provide investors exposure to Ethereum’s price without needing to directly hold the cryptocurrency.
Here’s a look at how those ETFs are performing today:
Despite being overtaken in daily flows, Bitcoin spot ETFs demonstrate strong performance. BlackRock’s iShares Bitcoin Trust ETF recorded $137.49 million in daily net inflow. IBIT’s cumulative net inflow has reached $31.74 billion, commanding a 2.51% BTC share.
Fidelity Wise Origin Bitcoin Fund, or FBTC, followed with $106.46 million in daily inflow, while Bitwise Bitcoin ETF, or BITB, secured $26.54 million.
Notably, Grayscale Bitcoin Trust showed no daily inflow, maintaining its cumulative position at -$20.52 billion.
The total value traded for Ethereum ETFs reached $313.61 million, while Bitcoin ETFs recorded a higher volume of $2.51 billion. The cumulative total net inflow stands at $573.32 million for Ethereum ETFs and $30.70 billion for Bitcoin ETFs.
The first spot Bitcoin ETF was approved and launched in Canada by Purpose Investments. It began trading on the Toronto Stock Exchange (TSX) under the ticker BTCC on Feb. 18, 2021. This was a significant milestone, as it marked the world’s first-ever ETF directly holding Bitcoin.
In the U.S., however, the SEC has not yet approved a spot Bitcoin ETF as of November 2024. The U.S. market currently only has futures-based Bitcoin ETFs, which started with the ProShares Bitcoin Strategy ETF (BITO) in October 2021.
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