Spot ethereum (ETH) exchange traded funds (ETF) in the U.S. saw record daily inflows on Friday, another sign that the second-largest cryptocurrency is gaining momentum as a catch-up trade after vastly underperforming bitcoin (BTC) this year.
The nine products combined booked $332.9 million in net inflows during Friday’s shortened trading session, data compiled by Farside Investors shows. BlackRock’s iShares Ethereum Trust (ETHA) and Fidelity Ethereum Fund (FETH) led, attracting $250 million and $79 million in fresh funds, respectively.
Friday was the fifth consecutive session with net inflows for the group, and concluded the second strongest week with $455 million in net inflows, per SoSoValue data. It was a shorter week as U.S. traditional markets were closed on Thanksgiving Thursday.
Ether ETFs also outpaced flows into their spot bitcoin counterparts, which gathered $320 million inflows on Friday and suffered net outflows during the week.
After falling out of investors’ favor and lagging behind bitcoin in price action and ETF flows this year, ether has enjoyed a resurgence recently as Don
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Author: Krisztian Sandor
