Ethereum outpaces Bitcoin in daily net flows for spot ETFs

Ethereum spot ETFs outperform Bitcoin ETFs amid ETH price surge, marking a historic milestone with daily inflows of $332.92 million.

Latest data from SoSoValue reveals that Ethereum (ETH) spot ETFs recorded $332.92 million in daily net inflows as of November 29, surpassing $320.01 million for Bitcoin (BTC) spot ETFs for the first time since their inception. putting it.

This development coincides with Ethereum’s price increase of over 3% in the last 24 hours, while Bitcoin showed minimal movement in the same period.

US ETH Spot ETF entry data from SoSoValue Ethereum ETF performance breakdown

The first spot Ethereum ETFs in the US began trading on July 23. Approved by the U.S. Securities and Exchange Commission, these ETFs include products from well-known financial institutions such as BlackRock, Fidelity and Grayscale. They provide investors with exposure to the price of Ethereum without having to hold the cryptocurrency directly.

Here’s a look at how these ETFs are performing today:

BlackRock’s iShares Ethereum Trust ETF, which trades on NASDAQ, was the top performer. Daily net inflow is $250.39 million. The fund’s cumulative net inflow is 2.1 billion dollars and its net assets are 2.5 billion dollars. The NYSE-listed Grayscale Ethereum Mini Trust recorded daily inflows of $3.39 million, contributing to significant cumulative net inflows of $420.15 million. The fund currently holds a 0.35% stake of ETH with a market price of $33.84. The Fidelity Ethereum Fund on the Cboe Exchange generated daily inflows of $79.44 million, bringing its cumulative total to $824.23 million. The fund is trading at $35.88 with a 0.22% ETH stake. Bitcoin ETFs maintain strong holdings

Despite being surpassed in daily flows, Bitcoin spot ETFs are performing strongly. BlackRock’s iShares Bitcoin Trust ETF recorded daily net inflows of $137.49 million. IBIT’s cumulative net inflow reached $31.74 billion and had a 2.51% BTC share.

Fidelity Wise Origin Bitcoin Fund (FBTC) followed with $106.46 million in daily inflows, while Bitwise Bitcoin ETF (BITB) provided $26.54 million.

In particular, Grayscale Bitcoin Trust showed no daily inflows and maintained 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. Cumulative total net inflow stands at $573.32 million for Ethereum ETFs and $30.70 billion for Bitcoin ETFs.

The first spot Bitcoin ETF has been approved and launched in Canada by Purpose Investments. It began trading on the Toronto Stock Exchange (TSX) on February 18, 2021, under the ticker symbol BTCC. This was a significant milestone as it was the world’s first ETF to directly hold Bitcoin.

However, in the US, the SEC has not yet approved a spot Bitcoin ETF as of November 2024. The US market currently only has futures-based Bitcoin ETFs, with the ProShares Bitcoin Strategy ETF (BITO) launching in October 2021.