The United States spot Ethereum (ETH) exchange-traded funds (ETFs) have hit an all-time high for inflows, following an impressive market rally triggered by Trump’s recent election win.
On November 11, Ethereum ETFs brought in an unprecedented $294.9 million, far exceeding their previous high of $106.6 million on launch day in July. Fidelity’s Ethereum Fund (FETH) topped the list with $115.5 million in new inflows, setting a record for the fund. BlackRock’s iShares Ethereum Trust ETF (ETHA) followed closely, attracting $100.5 million, according to preliminary data from Farside Investors and crypto news aggregator Tree News.
In third place was the Grayscale Ethereum Mini Trust ETF (ETH), drawing in $63.3 million. The Bitwise Ethereum ETF (ETHW) saw more modest inflows of $15.6 million, while other U.S. spot Ethereum ETFs reported no new inflows.
On the same day, Ether surged 8.4% to a 14-week high of $3,384, mirroring the broader crypto market’s near 10% rise, according to CoinGecko data.
Despite this impressive performance, Ether has been playing catch-up to other assets like Bitcoin and Solana, which have led this bullish phase, noted BTC Markets crypto analyst Rachael Lucas in an interview. Lucas highlighted that, after lagging behind, Ethereum ETFs are now starting to see increased interest.
Lucas also emphasized that Ethereum’s staking rewards, which aren’t available through spot ETFs, could attract traditional investors interested in Ethereum’s growth potential.
“There’s no reason why ETH shouldn’t continue to perform well,” Lucas noted optimistically.
CK Zheng, co-founder of ZX Squared Capital, shared that the Ethereum market could benefit significantly from a pro-crypto stance by the new Trump administration, which may push for increased blockchain adoption and digitization in finance.
Since their launch, U.S. spot Ethereum ETFs have collectively garnered around $3.1 billion in inflows, excluding the Grayscale Ethereum Trust (ETHE), which has seen net outflows of nearly $3.13 billion. BlackRock’s ETHA leads the pack, having accumulated over $1.5 billion in inflows since the ETFs first hit the market on July 23.
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