Spot Ethereum ETFs (exchange-traded funds) in the United States have continued their impressive form, posting their tenth consecutive day of positive gains to close the week. This strong performance reflects growing positive sentiment among investors following the recent US presidential election.
The increased inflows will also mark a positive start to the month of December for US Ethereum ETFs, which are yet to enjoy another period of strong inflows. Surprisingly, this recent positive has also translated into ETH price action, which recently crossed $4,000 for the first time since March 2024.
Spot Ethereum ETFs Register Fourth Largest Trading Volume
The latest data from SoSoValue shows that the United States Ethereum ETF market registered inflows totaling $83.3 million on Friday, December 6. This brings the exchange-traded funds record for ten straight days of capital inflows, the longest streak since ETFs. launched in July 2024.
Surprisingly, the most significant part of the value added to the Ethereum ETF comes from Fidelity’s Ethereum Fund (ticker FETH). According to market data, the Fidelity ETF led the group with revenues of $47.9 million on Friday.
BlackRock’s iShares Ethereum Trust (ticker ETHA) followed with inflows of more than $34.56 million. Meanwhile, the Grayscale Ethereum Mini Trust (ETH) and Bitwise Ethereum ETF (ETHW) contributed $22.9 million and $13.45 million, respectively.
It’s worth mentioning that Grayscale Ethereum Trust (ticker ETHE) and 21Shares Core Ethereum ETF (ticker CETH) posted outflows of $29.59 million and $6.9 million, respectively.
Source: SoSoValue
This one-day performance of $83.3 million brings total inflows to over $836.69 million this past week, the highest weekly performance for the Ethereum ETF since its launch. This is a big increase from the previous record since mid-November, which stood at $515 million.
Friday also marked the fourth highest trading day for Ethereum exchange-traded funds since the market hit. According to data from SoSoValue, a total of $992.52 million was sold during the closing day of the week.
Ethereum price at a glance
As of this writing, ETH is valued at around $4,000, representing a 0.4% price decrease in the last 24 hours. The altcoin’s long-term record is very remarkable, and the price of Ethereum has risen 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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