Ethereum ETFs Record $752 Million Inflow; ETH Hits 3-Year High
On Thursday, December 6, Ethereum (ETH) surged to its highest price in nearly three years, reaching $4,089.
This growth stems from strong institutional interest, with the U.S. Ethereum ETF recording its largest single-day net inflow of $428.4 million on December 5.
The resurgence of institutional investment in Ethereum ETFs
Leading inflows was BlackRock’s ETHA fund, followed by Fidelity’s FETH. These contributions also promoted Ethereum ETF It was the largest weekly net inflow since its launch in July.
Weekly inflows totaled $752.9 million in the first week of December. Even without Friday’s final data, it would have been a record weekly gain for these funds. This wave of institutional investment spurred an increase in Ethereum’s price and shifted the Fear and Greed Index towards “Greed,” which currently stands at 65.
Ethereum ETF gets off to a slow start Compared to the United States Bitcoin ETF. Saw it in the first month after launch Only one week inflow. Currently, the nine ETFs have total assets of $12.5 billion. This represents approximately 2.7% of the total Ethereum supply.
However, November marked a turning point; Monthly inflow exceeds US$1 billionindicating that institutional interest is still growing despite earlier outflows.
The State of Michigan Retirement System (SMRS) has made significant progress as the system becomes The first U.S. state pension fund to invest in Ethereum ETF. SMRS currently holds 460,000 shares of Grayscale Ethereum and 110,000 shares of the ARK Bitcoin ETF as part of its diversified cryptocurrency portfolio.
Meanwhile, other altcoins have also joined the ETF race. Companies like VanEck, 21Shares, and Grayscale Already applied for Solana ETF. In addition, WisdomTree and Bitwise are also included Four companies are seeking approval for XRP ETF.
As U.S. regulation appears to take a more crypto-friendly stance, the ETF market for digital assets is likely to expand.
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