Ethereum ETFs Seeing Net Positive Flows After Major Influx for BlackRock Fund

Nov. 13, 2024. 1 min. read.

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United States-based spot Ether exchange-traded funds (ETFs) have flipped to net positive flows, with almost $650 million entering these assets over the past five trading days, marking a 30% surge in their value. BlackRock’s iShares Ethereum Trust played a major role in this turnaround, recording its second-largest net inflow since its July launch.

On Nov. 12, nine spot Ether ETFs jointly recorded $135.9 million in net inflows, following a record-breaking $295 million inflow on Nov. 11, according to data from Farside Investors. This back-to-back influx pushed the funds’ net flows to a cumulative positive of $107.2 million for the first time since their inception.

BlackRock’s fund led the inflows with $131.4 million, surpassed only by its July 23 record of $266.5 million. ETF Store president Nate Geraci highlighted on social media that the BlackRock fund is one of 2024’s top-six ETF launches. It has amassed $1.67 billion in total inflows, maintaining a consistent streak without net outflow days.

Bitwise’s Ethereum ETF added $17 million, while Grayscale’s Ethereum Mini Trust and minor inflows for Ark 21Shares and VanEck’s funds contributed to the overall positive trend. However, Grayscale’s main Ethereum Trust continued its decline, facing $33.2 million in net outflows, bringing its cumulative losses to over $3.1 billion.

Geraci commented separately that the convergence of crypto and ETFs is the “most interesting” dynamic in asset management today, involving top players, regulators, and politicians. He emphasized the role of ETFs as a gateway for mainstream crypto adoption.

Ethereum saw a 32% weekly surge, pushing its market cap above $400 billion. Spot Bitcoin ETFs also saw strong inflows, totaling $817.5 million on Nov. 12, per Farside Investors.

Source: Ethereum ETF total flows flip net positive after runner-up inflow day for BlackRock

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