Ethereum spot ETFs set a new record last month, with daily net inflows amounting to $332.92 million, so SoSoValue lists it as of November 29. This is the first time the Ethereum ETFs have topped the Bitcoin ETFs, which recorded $320.01 million during the same period.
Investors have flocked to the Ethereum spot ETFs launched in July 2024. BlackRock's iShares Ethereum Trust ETF was on top, trading on NASDAQ, and attracted $250.39 million in daily inflows. This suggests that the net inflow to the fund has reached $2.1 billion, and the total net assets total $2.5 billion.
Fidelity Ethereum Fund, listed on the Cboe Exchange, was next with $79.44 million in daily funds, bringing its total to $824.23 million. The Grayscale Ethereum Mini Trust also saw $3.39 million in daily investment, bringing the total net asset investment to $420.15 million.
Institutional and retail investors more widely adopted Ethereum ETFs, with a total value traded of $313.61 million. These funds expose Ethereum's price movement; one doesn't need to own the cryptocurrency.
While Ethereum ETFs are seeing higher daily inflows than Bitcoin, Bitcoin spot ETFs retain market dominance in inflows and net assets. BlackRock's iShares Bitcoin Trust had $137.49 million daily and a total inflow of $31,74 billion, representing 2.51% of the Bitcoin assets. Fidelity's Bitcoin Fund contributed $106.46 million in daily inflows, while Bitwise Bitcoin ETF secured $26.54 million.
Bitcoin ETFs continue to attract significant trading volumes, reaching $2.51 billion compared to $313.61 million for Ethereum ETFs. Despite this, Bitcoin's price performance lagged behind Ethereum, declining by 1.7% over the last week of November, while Ethereum gained 15%.
Ethereum's market activity suggests that it can be viewed increasingly as a safe asset to invest in. Ethereum ETFs saw an inflow of $467 million between Nov 25 and Nov 29, with BlackRock's ETHA product holding $300 million. However, Bitcoin offers more in market cap and older ETFs to ensure dominance continues.