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Ethereum spot-ETFs recorded a net inflow of 295 million dollars on Monday.
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The rapid growth of ETH ETFs is highlighted by the spike in inflow.
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The price of ETH has risen by over 42% within the last seven days.
Soso Value data shows that Ethereum spot ETFs experienced a net inflow of 295 million dollars on Monday, 11th November. Fidelity’s ETF (FETH) had a daily inflow of $115 million, followed by BlackRock’s ETHA with a $101-million inflow.
Soso Value data shows that Grayscale’s Ethereum ETF received a $63.32million inflow. Bitwise’s ETHW product also had a $15.57million inflow.
The high inflow rates of spot Ethereum ETF products last week indicate that capital has been moving into the cryptocurrency industry. A bullish market indicates that investors are returning to the crypto industry and that new users have entered it.
In terms of specifics, Ethereum has seen a general increase in capital inflow. On November 5, the day before the U.S. Presidential election, Ethereum’s market capitalization was $209.04 Billion. One week later the market cap had reached $407.89 Billion.
TradingView data shows that the capital inflow reflects in the Ethereum network’s native currency, ETH. It has risen 42.07% over the past week. From a low of $2,379 on November 5, it is now trading at $3,388.
Read also: Bitwise CEO: Ethereum ETFs: Slow start, but future bright
Analysts claim that spot ETFs are a good way for certain investors to explore cryptocurrency investment. These investors include institutional ones who may not be interested in direct exposure to the crypto market but still want to take advantage of the technology.
In a development perspective, an increase in spot ETF inflows is good for Ethereum. It shows that institutional investors are firmly convinced that the Ethereum ecosystem is a product worth holding for a long period of time. This information can be useful to retail investors who are interested in following what large investors are doing in the crypto market.
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