US spot ETFs (exchange-traded funds) continued their impressive form, recording their 10th straight day of positive flows to close out the week. This strong performance reflects the increasing positive sentiment among investors after the recent US presidential elections.
The string of capital inflows will also mark a great start to December for US-based Ethereum ETFs, which have yet to enjoy a long period of strong inflows. Unsurprisingly, this recent positivity has also translated into Ethereum’s price action, which recently surpassed $4,000 for the first time since March 2024.
Ethereum ETFs record fourth-largest trading volume
Latest data from SoSoValue He appears The US Ethereum ETF market recorded a net inflow of $83.3 million on Friday, December 6. This brings the ETF’s record to ten consecutive days of capital outflows, the longest streak of its kind since the ETFs launched in July 2024.
Surprisingly, the most significant portion of the value added to Ethereum ETFs came from Fidelity’s Ethereum Fund (with ticker FETH). According to market data, the Fidelity ETF led the pack with inflows of about $47.9 million on Friday.
This was followed by BlackRock’s iShares Ethereum Trust (with ticker ETHA) with an inflow of over $34.56 million. Meanwhile, Grayscale Ethereum Mini Trust (ETH) and Bitwise Ethereum ETF (ETHW) contributed $22.9 million and $13.45 million, respectively.
It is worth noting that Grayscale Ethereum Trust (with ticker ETHE) and 21Shares Core Ethereum ETF (with ticker CETH) recorded outflows of $29.59 million and $6.9 million, respectively.
Source: SoSoValue
This $83.3 million single-day performance brings the total net inflow to over $836.69 million over the past week, the highest weekly performance for Ethereum ETFs since their launch. This is a huge increase from the previous record set in mid-November, which reached $515 million.
Friday also marked the fourth-highest trading day in terms of volume for Ethereum ETFs since they hit the market. According to data from SoSoValue, a total value of $992.52 million was traded on the closing day of the week.
Ethereum price at a glance
As of this writing, ETH is worth around $4,000, reflecting a 0.4% price decline over the past 24 hours. The altcoin’s track record on a broader time frame is impressive, with the price of Ethereum up more than 10% in the past seven days.
The price of Ethereum hangs around the $4,000 mark on the daily timeframe | Source: ETHUSDT chart on TradingView
Featured image from iStock, chart from TradingView
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