Ethereum ETFs record daily inflow milestone; ETH closes week up 8%

In a significant development, exchange-traded funds (ETFs) Ethereum spot recorded a milestone in daily inflows on November 29 and surpassed Bitcoin-based products.

Amid growing institutional demand for U.S.-traded Ethereum spot ETFs, these products yesterday saw $332 million in daily inflows, surpassing the $320 million in Bitcoin ETFs, according to the data from the SosoValue platform.

Ethereum ETFs saw positive net inflows for the fifth consecutive trading day, representing positive momentum for the products amid the growth of the Ethereum cryptocurrency.

The move marked the first time that Ethereum ETFs had achieved inflows of $332 million since trading began in July, suggesting a significant shift in investor sentiment. The price of ETH rose by 4,27% to surpass $3.720.

At the time of publication, the price of Ethereum was quoted at $3.672,96, up 2.3% in the last 24 hours. With this, ETH is on track to close the week up almost 8%.

Increased Investor Inflows Drive Ethereum ETFs to Outperform Bitcoin ETFs

The surge in investor inflows into the cryptocurrency market has boosted Ethereum-based exchange-traded funds (ETFs). Recently, these products reached a significant milestone in outperforming Bitcoin ETFs.

Ethereum ETFs outperformed Bitcoin ETFs in net inflows, recording inflows of $224,9 million while BTC-based products attracted $35,2 million in the period between Nov. 22 and 27, according to data released by Farside Investors.

The recent move comes on the back of outflows recorded on November 25. Ethereum’s price has increased by nearly 8% in the past seven days, while Bitcoin is facing a 2% pullback in the same period.