U.S. Spot Ether ETFs Hit Record Daily Inflow of $332M
Spot Ether ETFs Reach New High – US-based spot Ether ETFs reached an all-time high of $332.9 mln inflows on Friday, data from Farside showed. This surpassed the previous record of $295.5 mln set on November 11 by $37.4 mln, showing increasing investor interest in Ethereum-based ETFs.
The massive contribution of $250.4 million from BlackRock, the world’s largest asset manager, drove this unprecedented milestone. This development marked the strengthening of Ethereum’s position in the cryptocurrency market, especially since the cryptocurrency has gained momentum in institutional circles.
BlackRock’s Ethereum Trust Propels Market Growth
BlackRock’s iShares Ethereum Trust has been the best performer since its inception on July 23. Nate Geraci, president of the ETF Store, pointed out on X that ETHA has already seen inflows of more than $2 billion.
On November 29, the price of Ether jumped 1.88% to $3,662, adding to the optimism surrounding the asset. The unprecedented inflows further cement Ethereum’s position as a formidable alternative to Bitcoin among institutional investors.
Ethereum Surpasses Bitcoin in ETF Flows
For the first time, Ether ETFs outpaced their Bitcoin counterparts in daily inflows. Bitcoin ETFs had $320 million on the same day, shy of Ethereum’s $332.9 million.
Crypto analysts have been quick to note the significance of the flip. According to Felix Hartmann, founder of Hartmann Capital, this could be a point of no return in Wall Street’s shift of focus to Ethereum in an “alt rotation” strategy.
Ethereum Regains Tether Dominance
Ethereum has reclaimed the top spot as the most used blockchain for Tether, with a supply of $60.3 billion, edging out Tron, which now holds $58.1 billion. The movement comes after the supply of USDT on Ethereum rose 9.3% in the last week while supply on Tron fell 1.5%.
Stablecoins like Tether serve as a source of critical liquidity and thus allow for seamless trading in the crypto world. Ethereum’s regained dominance is reflected in its increasingly broadening usage by financial institutions in the tokenized assets area.
Stablecoins Boost Ethereum’s Growth
The total supply of Tether has reached a new high at $132.9 billion, with Ethereum significantly contributing to this growth. Its wider usability, especially in the sphere of DeFi and institutional tokenization, continues to make its position stronger.
While Tron remains favored in high-inflation regions due to its low fees and fast transactions, Ethereum’s versatility has cemented its position as a dominant blockchain for stablecoins and beyond.
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U.S. Spot Ether ETFs Hit Record Daily Inflow of $332M
Spot Ether ETFs Reach New High – US-based spot Ether ETFs reached an all-time high of $332.9 mln inflows on Friday, data from Farside showed. This surpassed the previous record of $295.5 mln set on November 11 by $37.4 mln, showing increasing investor interest in Ethereum-based ETFs.
The massive contribution of $250.4 million from BlackRock, the world’s largest asset manager, drove this unprecedented milestone. This development marked the strengthening of Ethereum’s position in the cryptocurrency market, especially since the cryptocurrency has gained momentum in institutional circles.
BlackRock’s Ethereum Trust Propels Market Growth
BlackRock’s iShares Ethereum Trust has been the best performer since its inception on July 23. Nate Geraci, president of the ETF Store, pointed out on X that ETHA has already seen inflows of more than $2 billion.
On November 29, the price of Ether jumped 1.88% to $3,662, adding to the optimism surrounding the asset. The unprecedented inflows further cement Ethereum’s position as a formidable alternative to Bitcoin among institutional investors.
Ethereum Surpasses Bitcoin in ETF Flows
For the first time, Ether ETFs outpaced their Bitcoin counterparts in daily inflows. Bitcoin ETFs had $320 million on the same day, shy of Ethereum’s $332.9 million.
Crypto analysts have been quick to note the significance of the flip. According to Felix Hartmann, founder of Hartmann Capital, this could be a point of no return in Wall Street’s shift of focus to Ethereum in an “alt rotation” strategy.
Ethereum Regains Tether Dominance
Ethereum has reclaimed the top spot as the most used blockchain for Tether, with a supply of $60.3 billion, edging out Tron, which now holds $58.1 billion. The movement comes after the supply of USDT on Ethereum rose 9.3% in the last week while supply on Tron fell 1.5%.
Stablecoins like Tether serve as a source of critical liquidity and thus allow for seamless trading in the crypto world. Ethereum’s regained dominance is reflected in its increasingly broadening usage by financial institutions in the tokenized assets area.
Stablecoins Boost Ethereum’s Growth
The total supply of Tether has reached a new high at $132.9 billion, with Ethereum significantly contributing to this growth. Its wider usability, especially in the sphere of DeFi and institutional tokenization, continues to make its position stronger.
While Tron remains favored in high-inflation regions due to its low fees and fast transactions, Ethereum’s versatility has cemented its position as a dominant blockchain for stablecoins and beyond.
Читать больше
SEC Chair Paul Atkins Slams Regulation-By-Enforcement, Praises Crypto Task Force At Senate Hearing