BTC and ETH ETFs Surge as Ethereum Records Highest Daily Gains
Highlights:
- BTC and ETH ETFs recorded profits in their most recent outings.
- Ethereum ETFs witnessed an over $300 million surge, marking its highest ever daily gains.
- Bitcoin ETF’s latest inflow failed to save the commodities as they ended the week on a losing note.
On November 29, Bitcoin (BTC) and Ethereum (ETH) Exchange-Traded Funds (ETFs) recorded net inflows as both entities concluded November on a winning note. According to SosoValue’s ETF flow statistics, Ethereum commodities attracted about $332.92 million in cash inflows, marking the entities’ highest-ever daily gains since inception.
Advertisement
It is worth noting that ETH ETFs recent outing surpassed the previous highest daily profits of about $295.48 million, which the commodities raked in on November 11. Meanwhile, with the over $300 million contribution, Ethereum ETFs concluded the week profitably, with about $466.63 million in weekly gains.
Like Ethereum, Bitcoin ETFs also attracted cash inflows. However, the profits surge could not save the commodities’ week as they slumped to net losses. The on-chain ETF tracker revealed that the Bitcoin commodities welcomed about $320.01 million on November 29. In weekly data, the commodities incurred net outflows valued at about $138.07 million.
On November 29, the total net inflow of Ethereum spot ETFs reached $333 million, marking a record high and surpassing Bitcoin spot ETFs ($320 million) for the first time in history. The Ethereum spot ETF with the largest single-day net inflow was the BlackRock ETF ETHA, with a… pic.twitter.com/9HH0jp3IvH
— Wu Blockchain (@WuBlockchain) November 30, 2024
ETHA Attracts Massive Funds as it Cumulative Net Inflows Exceeded $2 Billion
The most recent outing saw significantly low activities, with only three active entities and six commodities registering zero flows. The three active ETFs welcomed only profits, with BlackRock Ethereum ETF (ETHA) topping the gains chart. ETHA attracted about $250.39 million in cash inflows to spike its cumulative net inflows to about $2.1 billion.
It is worth noting that ETHA’s total net assets have skyrocketed to about $2.5 billion. The total value traded was $167.67 million, while the daily volume reflected $6.12 million. Aside from ETHA, the two other entities that witnessed profits were Fidelity Ethereum ETF (FETH), with $79.14 million, and Grayscale Mini Ethereum ETF (ETH), with $3.39 million.
With the recent inputs, Ethereum ETF cumulative net inflows have soared to about $573.32 million from $240.41 million. The total value traded was $313.61 million, while the total net assets reflected $11.04 billion.
Bitcoin ETFs Record Heightened Activities
Unlike Ethereum, there were more active BTC ETFs in yesterday’s market outing. Notedly, six entities were active, and they all recorded profits. Like Ethereum, BlackRock Bitcoin ETF (IBIT) led the inflows pool with about $137.49 million in gains. Fidelity Bitcoin ETF (FBTC) followed IBIT closely with positive input valued at about $106.46 million.
Aside from IBIT and FBTC, only two other commodities experienced profits above $10 million. They are VanEck Bitcoin ETF (HODL), with $33.08 million, and Bitwise Bitcoin ETF (BITB), with $26.54 million. Other profitable commodities include Grayscale Mini Ethereum ETF (ETH) ($8.64 million) and ARK 21Shares Bitcoin ETF (ARKB) ($7.79 million).
Meanwhile, following contributions from yesterday’s market outing, Bitcoin ETFs’ cumulative net inflows soared to about $30.7 billion. The total value traded and net assets reflected about $2.51 billion and $105.28 billion, respectively.
Ethereum Finally Breaks Above $3,500 as Bitcoin Continues to Shy Away from $100K
At the time of press, Ethereum is changing hands at about $3,700, reflecting a 4.1% upswing in the past 24 hours. Within the same timeframe, the world’s most valuable altcoin fluctuated between $3,561.28 – $3,719.00. Following its recent spike, ETH market capitalization soared considerably to about $446.8 billion.
On the other hand, Bitcoin displayed a slight 0.9% upswing with about $96,800 in selling price. After establishing its peak price of about $99,645.39 on November 22, many enthusiasts felt it would break above $100K soon. However, such has not happened, and market participants will continue to hope.
eToro Platform
Best Crypto Exchange
- Over 90 top cryptos to trade
- Regulated by top-tier entities
- User-friendly trading app
- 30+ million users
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.
Advertisement
Chinedu Agbakwusi
Chinedu Agbakwusi is a news writer and editor for Crypto2Community. He is a crypto enthusiast with vast experience across several crypto-related projects and platforms. Chinedu has been following the development of the crypto market for several years, and he is optimistic about its potential to democratise the global financial system. He hopes to be a reliable plug for reporting trends and breaking down complex concepts to his readers. Agbakwusi's previously written for several crypto news including Times Tabloid, UPay, while also contributing over the years to many others leading media publications.
View full profile ›ℹ️About Crypto2Community's Editorial Process
Crypto2Community's editorial policy is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict editorial policy and sourcing standards, and each page undergoes diligent review by our team of top crypto industry experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
