United States-based spot Ether exchange-traded funds (ETFs) have seen a tremendous uptick in net inflows and positive flows for the first time since their launch in July. The net asset value for the nine Ether ETFs stood at $135.9 million on November 12 after experiencing $295 million in inflows the day before. These significant inflows have taken the funds to the total flows above $107.2 million.
Leading the surge, BlackRock's iShares Ethereum Trust (ETHA) saw $131.4 million of net inflows, which ranks as its second-largest daily inflows since the product's inception. According to Nate Geraci, the president of ETF Store, ETHA has raised about $1.67 billion in total assets since its debut and has not registered one day of outflow.
The general market for cryptos has followed the positive signs seen in ETFs for Ether as its price rose 32% in the last week to spike above $3,400. This surge has taken Ether's market capitalization to over $400 billion, equivalent to adding Solana's total market capitalization in five days. Similarly, alongside Ether, the Bitwise Ethereum ETF (ETHW) and Grayscale's Ethereum Mini Trust (ETH) also experienced increased fund inflow of about $17 million and $12.7 million, respectively.
Smaller amounts of inflows were noted in Ark 21Shares and VanEck products. This trend indicates five positive days in Ether ETF inflows, with nearly $650 million deposited into these funds in the last five days. Such growth has set a record for global assets under management at $116 billion, primarily due to BTC inflows totalling $1.8 billion, thanks to macroeconomic trends and recent political events in the United States.
Investments in cryptocurrency-related products have been further boosted recently by the outcome of the current U.S. presidential election. Since Donald Trump's victory, there has been a rise in optimism across the cryptocurrency market. Only days after Trump's victory, BlackRock's spot Bitcoin ETF hit a record high of $1.1 billion in net inflows.
Several Spot Bitcoin ETFs in the United States had a rather robust day on November 12 as total net asset inflows reached $817.54 million. These assets include BlackRock's iShares Bitcoin Trust (IBIT), which has attracted $778.27 million in these inflows, greatly contributing to its $28.92 billion in assets under management. Digital asset investment products saw $1.98 billion in inflows in the last week alone, the fifth consecutive week of inflow and a total record of $31.3 billion this year.