BlackRock, the world’s largest asset manager, reported the highest daily inflows into its iShares Ethereum Trust ETF (ETHA) in over three months. On November 8, ETHA saw inflows of $60.3 million, the largest since August 6, when it drew in $109.9 million, according to data from Farside.
Ethereum’s Price Boost Drives Interest
This surge in inflows comes as Ether’s (ETH) price edges near the $3,000 level, a significant milestone it hasn’t reached since August. As of the latest data, Ether was trading at approximately $2,970. This price uptick has likely fueled investor interest in Ethereum-focused ETFs, with BlackRock’s ETHA seeing consecutive inflows totaling $84.3 million over the past week.
Impact of U.S. Election Results
Interestingly, the inflows follow former President Donald Trump’s recent reelection announcement, which some market analysts are linking to increased confidence and inflows into digital assets. Into The Cryptoverse’s founder, Benjamin Cowen expressed this view in a tweet, stating, “I believe there’s a strong possibility that the bottom for ETH/BTC has already been reached.”
In addition to BlackRock’s ETF, other Ethereum-focused funds have also seen notable inflows. On the same day, Fidelity’s Ethereum Fund (FETH) attracted $18.4 million, VanEck’s Ethereum Fund (ETHV) received $4.3 million, and Bitwise’s Ethereum ETF (ETHW) pulled in $3.4 million.
The team behind Kamino, a Solana-based lending protocol, stated,
“Bitcoin is king, and our vision is for Kamino to become one of the largest cbBTC platforms in DeFi.”
A Banner Year for BlackRock’s Crypto ETFs
The Ethereum ETF inflows come one day after BlackRock’s spot Bitcoin ETF reached an all-time high in daily inflows, topping $1 billion since its launch in January. The immense interest has made BlackRock a leader among the 11 U.S.-listed spot Bitcoin ETFs, accounting for roughly 82% of the total inflows on that day, per Cointelegraph.
Ether Outperforms BTC with Weekly Gains
Ethereum has also recorded its most significant weekly gains since May 2024, briefly outperforming Bitcoin and capturing attention in the ETH/BTC market. With the increased interest in Ethereum-based products, both institutional and retail investors seem to be positioning for potential trend reversals, as some analysts suggest Ethereum could maintain its lead over Bitcoin in the short term.
As Ether’s adoption grows through financial products like ETFs, market watchers remain keen to see how Ethereum and Bitcoin will continue to perform in the evolving digital asset landscape.
I am Toby Rothschild, Co-Founder of Spearmint and author at Coinography, and a strategist focused on advancing Web3 innovation, digital ecosystems, and the future of decentralized technology. I combine product thinking, creative leadership, and deep interest in emerging trends to help shape how individuals and organizations interact with the next generation of digital systems.
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