Ethereum’s rising price is helping spot ETFs finally gain traction

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

As of the latest update, Ethereum’s market cap stands at a whopping $447 billion, making it the second largest cryptocurrency by market cap. The 24-hour trading volume reached $32 billion, demonstrating 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 23.76% below its all-time high of $4,868 on November 10, 2021 .

US-listed spot Ethereum ETFs recorded a daily net inflow of $332.92 million as of November 29, 2024. This significant figure underlines the growing interest of institutional and private investors. Cumulative net inflows into these ETFs now stand at $573.32 million, indicating continued interest over time. Furthermore, the total net assets of these ETFs have reached $11.04 billion, which is 2.55% of Ethereum’s total market capitalization.

The data also highlights the performance of various spot Ethereum ETFs. BlackRock’s NASDAQ-listed ETHA recorded daily net inflows of $250.39 million and cumulative net inflows of $2.10 billion, with total net assets of $2.50 billion. The market price was $27.19, with a daily change of -1.49%.

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

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