Spot Ethereum ETFs See Surge in Inflows as Crypto Markets React to US Election Results

Spot Ether exchange-traded funds (ETFs) in the US experienced a surge in inflows, hitting their highest in six weeks following a crypto market uptick triggered by the US presidential election.

On November 6, these funds saw a collective $52.3 million inflow, marking the largest since September 27.

The bulk of these funds went to the Fidelity Ethereum Fund, which attracted $26.9 million, while the Grayscale Ethereum Mini Trust saw $25.4 million.

However, BlackRock’s iShares Ethereum Trust saw no inflow. Despite this, the total for all spot Ether ETFs remains negative, with a $490 million drop, largely due to significant losses in Grayscale’s high-fee ETHE fund.

READ MORE:

Avalanche Buys Back $52M in AVAX, Ends Ties with Terra

In contrast, Bitcoin ETFs saw much stronger performance, with $621.9 million in net inflows on the same day. The Fidelity Wise Origin Bitcoin Fund led the charge, recording $308.8 million.

While Bitcoin spot markets experienced a 4% rise, Ether also saw a 10% increase, reaching its highest level since August, peaking at $2,872.

Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.