{"id":654676,"date":"2024-11-24T14:30:52","date_gmt":"2024-11-24T14:30:52","guid":{"rendered":"https:\/\/uniquehot.com\/?p=654676"},"modified":"2024-11-24T10:20:11","modified_gmt":"2024-11-24T10:20:11","slug":"spot-ethereum-etfs-end-6-day-drought-with-90-million-inflow-will-ether-price-respond","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/ethereum-news\/spot-ethereum-etfs-end-6-day-drought-with-90-million-inflow-will-ether-price-respond\/","title":{"rendered":"Spot Ethereum ETFs End 6-Day Drought With $90 Million Inflow \u2014 Will Ether Price Respond?"},"content":{"rendered":"

Investor interest in the spot Ethereum ETFs (exchange-traded funds<\/a>) appeared to have waned after failing to register a net inflow day for six consecutive days. However, the cryptocurrency products ended the week on a high with a substantial capital influx on Friday, November 22.<\/span><\/p>\n

This capital inflow represents a shift in investor sentiment, which has not particularly been positive over the past few days. Nonetheless, the market would be hoping that this newly found momentum would persist and perhaps also trigger some bullish action for the ETH price.<\/span><\/p>\n

Can Ethereum ETFs Ensure ETH\u2019s Price Recovery?<\/b><\/h2>\n

According to the latest data from SoSoValue, the United States-based spot Ethereum ETFs witnessed a net inflow of $91.21 million on Friday. This positive single-day performance represents the first net inflow for the exchange-traded funds since November 13.<\/span><\/p>\n

Related Reading: This Analyst Correctly Predicted The Bitcoin Price Jump To $99,000, But His Prediction Is Not Done<\/a><\/div>\n

Market data shows that a significant portion of the inflows came from BlackRock\u2019s iShares Ethereum Trust (with the ticker ETHA). The crypto product registered around $99.7 million in total daily inflows to close the previous week.<\/span><\/p>\n

Fidelity\u2019s Ethereum Fund (with the ticker FETH) and Bitwise\u2019s Ether ETF (ETHW) were the only other products to post capital inflows<\/a> on Friday, recording $5.76 million and $4.96 million, respectively. Grayscale\u2019s ETHE and ETH registered outflows of over $18.5 million and $621,000, respectively.<\/span><\/p>\n

\"Ethereum
Chart showing total Ethereum spot ETF net inflow | Source: SoSoValue<\/figcaption><\/figure>\n

As earlier mentioned, Friday\u2019s performance represents a return to positive inflows for the Ethereum ETFs. Prior to this showing, the crypto products posted six consecutive outflow days, draining a cumulative total of $225.6 million within this period.<\/span><\/p>\n

The price of ETH, which initially seemed to have found its footing, also slowed down during this period of the Ethereum ETFs outflow. This trend highlights the significant influence of the exchange-traded funds on price action \u2014 both for the world\u2019s largest cryptocurrency Bitcoin and Ethereum.<\/span><\/p>\n

With the fortunes of the US-based Ethereum ETFs <\/a>seemingly turning around, the price of ETH has also taken an upward swing in the last couple of days. Investors will be hoping that the positive momentum for the Ethereum ETFs continues and translates into the altcoin\u2019s price.<\/span><\/p>\n

Ethereum Price At A Glance<\/b><\/h2>\n

As of this writing, the price of ETH stands at around $3,423, reflecting a 2.1% increase in the past day. The altcoin is up by more than 9% on the weekly timeframe, according to data from CoinGecko.<\/span><\/p>\n

Related Reading: Bitcoin Price Mirrors 2017 Pattern, Is The Top Only 2 Weeks Away After Hitting $100,000?<\/a><\/div>\n
<\/div>\n
\n
\"Ethereum
The price of Ethereum returns above the $3,400 mark on the daily timeframe | Source: ETHUSDT chart on TradingView<\/a><\/figcaption><\/figure>\n<\/div>\n
Featured image created by Dall-E, chart from TradingView<\/em><\/div>\n","protected":false},"excerpt":{"rendered":"

Investor interest in the spot Ethereum ETFs (exchange-traded funds) appeared to have waned after failing to register a net inflow day for six consecutive days. However, the cryptocurrency products ended the week on a high with a substantial capital influx on Friday, November 22. This capital inflow represents a shift in investor sentiment, which has not particularly been positive over the past few days. Nonetheless, the market would be hoping that this newly found momentum would persist and perhaps also trigger some bullish action for the ETH price. Can Ethereum ETFs Ensure ETH\u2019s Price Recovery? According to the latest data from SoSoValue, the United States-based spot Ethereum ETFs witnessed a net inflow of $91.21 million on Friday. This positive single-day performance represents the first net inflow for the exchange-traded funds since November 13. Related Reading: This Analyst Correctly Predicted The Bitcoin Price Jump To $99,000, But His Prediction Is Not Done Market data shows that a significant portion of the inflows came from BlackRock\u2019s iShares Ethereum Trust (with the ticker ETHA). The crypto product registered around $99.7 million in total daily inflows to close the previous week. Fidelity\u2019s Ethereum Fund (with the ticker FETH) and Bitwise\u2019s Ether ETF (ETHW) were the only other products to post capital inflows on Friday, recording $5.76 million and $4.96 million, respectively. Grayscale\u2019s ETHE and ETH registered outflows of over $18.5 million and $621,000, respectively. As earlier mentioned, Friday\u2019s performance represents a return to positive inflows for the Ethereum ETFs. Prior to this showing, the crypto products posted six consecutive outflow days, draining a cumulative total of $225.6 million within this period. The price of ETH, which initially seemed to have found its footing, also slowed down during this period of the Ethereum ETFs outflow. This trend highlights the significant influence of the exchange-traded funds on price action \u2014 both for the world\u2019s largest cryptocurrency Bitcoin and Ethereum. With the fortunes of the US-based Ethereum ETFs seemingly turning around, the price of ETH has also taken an upward swing in the last couple of days. Investors will be hoping that the positive momentum for the Ethereum ETFs continues and translates into the altcoin\u2019s price. Ethereum Price At A Glance As of this writing, the price of ETH stands at around $3,423, reflecting a 2.1% increase in the past day. The altcoin is up by more than 9% on the weekly timeframe, according to data from CoinGecko. Related Reading: Bitcoin Price Mirrors 2017 Pattern, Is The Top Only 2 Weeks Away After Hitting $100,000? Featured image created by Dall-E, chart from TradingView<\/p>\n","protected":false},"author":590,"featured_media":641882,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[89518],"tags":[89155,78803,92385,91198],"class_list":["post-654676","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum-news","tag-eth-etf","tag-ethusdt","tag-sosovalue","tag-spot-ethereum-etfs"],"acf":[],"yoast_head":"\nSpot Ethereum ETFs End 6-Day Drought With $90 Million Inflow \u2014 Will Ether Price Respond?<\/title>\n<meta name=\"description\" content=\"Investor interest in the spot Ethereum ETFs (exchange-traded funds) appeared to have waned after failing to register a net inflow day for six consecutive\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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