- Ethereum ETFs hit $1B daily inflows, outpacing Bitcoin products.
- Investor momentum shifts as Bitcoin ETFs lag behind Ethereum surge.
- ETH climbs toward record highs amid massive ETF investment spike.
According to data from the analytics platform SoSoValue, Ethereum exchange-traded funds have achieved a historic milestone, recording over $1 billion in a single day. BlackRock’s iShares Ethereum Trust ETF (ETHA) dominated the inflows with $640 million, while the Fidelity Ethereum Fund (FETH) followed with $276 million.
The jump follows a poor beginning of the month for Ethereum ETFs that had experienced heavy redemptions in previous months. With the current trends, these products may end the month with huge net inflows, which will show a distinct change in investor sentiment.
Ethereum ETFs have a total net asset of $25.71 billion, which is close to five percent of Ethereum’s total market capitalisation. This emergence indicates a change in interest balance between the two biggest cryptocurrencies.
Also Read: Here’s Why You Should Accumulate XRP Before December
Bitcoin ETFs Struggle to Keep Pace with Ether’s Momentum
Bitcoin-focused exchange-traded funds have underperformed in comparison. Over the same time, they collected only $178.15 million, with iShares Bitcoin Trust (IBIT) adding $138 million through BlackRock. The Fidelity Wise Origin Bitcoin Fund (FBTC) held a fairly small amount of capital: $13 million.
Bitcoin products have fallen behind Ethereum and are no longer the dominant ETF inflows leader. The ETH/BTC pair has rallied to 0.036 BTC, its greatest since January, and has increased 55 percent over the last two months.
Ethereum’s price continues to climb, now trading at $4,293 and moving closer to its all-time high of $4,878. The available market data indicates that a high volume of ETF inflows is contributing to this rally.
The inflows of Ethereum ETFs point to a significant change in investor preference towards products not related to Bitcoin. As Ethereum prevails in the inflows and price increase, the rivalry between the two market leaders is becoming more competitive, which could transform the crypto investment sphere.
Also Read: Lawyer Slams XRP Escrow Critics, Citing Proof Ripple Boosts Market Stability
