Ethereum’s Surging Price Is Helping Spot Ethereum ETFs Finally Start to Gain Traction

Ethereum (ETH) is back in the spotlight as its price has seen a significant surge, climbing to $3,711 as of 11:30 p.m. on November 30. This month’s 47.40% increase in the value of ETH seems to have sparked renewed interest in US-listed spot Ethereum ETFs, which until November had largely been overshadowed by spot Bitcoin ETFs.

As of the latest update, Ethereum’s market cap stands at a staggering $447 billion, making it the second-largest cryptocurrency by market capitalization. Its 24-hour trading volume reached $32 billion, showcasing robust liquidity and market activity. The price increase is part of a larger recovery, with Ethereum up 321.02% from its cycle low of $881.56 on June 18, 2022, but still down 23.76% from its all-time high of $4,868 on November 10, 2021.

U.S.-listed spot Ethereum ETFs saw a daily net inflow of $332.92 million on November 29, 2024. This significant figure highlights growing interest from institutional and retail investors. The cumulative net inflows into these ETFs now stand at $573.32 million, indicating sustained interest over time. Additionally, the total net assets of these ETFs have reached $11.04 billion, representing 2.55% of Ethereum’s total market capitalization.

The data further highlights the performance of various spot Ethereum ETFs. BlackRock’s ETHA, listed on NASDAQ, saw a daily net inflow of $250.39 million and a cumulative net inflow of $2.10 billion, with total net assets of $2.50 billion. Its market price stood at $27.19, with a daily change of -1.49%.

Fidelity’s FETH, listed on CBOE, reported a daily net inflow of $79.14 million and a cumulative net inflow of $824.23 million. Its net assets reached $952.33 million, with a market price of $35.88 and a daily change of -1.32%. Grayscale’s ETHE, listed on NYSE, recorded a daily net inflow of $3.39 million and a cumulative net inflow of $420.15 million. Its net assets amounted to $1.54 billion, with a market price of $33.84 and a daily change of -1.28%.

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