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U.S.-based spot Ether exchange-traded funds (ETFs) have flipped to a net positive flow after a significant streak of inflows, largely driven by BlackRock’s iShares Ethereum Trust. On November 12, Farside Investors reported that the nine spot Ether ETFs combined saw $135.9 million in net inflows, following an even larger $295 million inflow the previous day.
These successive inflows have turned the tide for Ether ETFs since their July launch, putting their total net flows into positive territory for the first time, with a combined net positive of $107.2 million.
BlackRock’s fund led the charge, recording its second-highest single-day inflow since inception, with $131.4 million added on November 12 alone. The fund’s largest inflow was on July 23, when it took in $266.5 million. Since its launch, BlackRock’s Ether ETF has not seen a single net outflow day, accumulating a total of $1.67 billion in inflows to date. This performance placed it among the top six ETF launches of 2024, as noted by ETF Store president Nate Geraci.
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Increased Institutional Interest in Ether ETFs
The broader shift in Ether ETF flows signals renewed interest in institutional crypto assets. In addition to BlackRock, several other major Ether ETFs experienced notable inflows on November 12, with Bitwise’s Ethereum ETF seeing $17 million, Grayscale’s Ethereum Mini Trust attracting $12.7 million, and smaller but steady contributions from funds managed by Ark 21Shares and VanEck. The consecutive five-day trading surge has funneled approximately $650 million into Ether ETFs, reflecting the growing appetite for digital assets among mainstream investors.
Grayscale’s Ethereum Trust, however, diverged from the inflow trend, continuing to record outflows of $33.2 million. Grayscale’s long-standing ETF, once dominant in the space, has seen a total of $3.1 billion in outflows as investors shift toward newer offerings like those by BlackRock and Bitwise.
Crypto ETFs Open Doors for Mainstream Adoption
Beyond Ether, spot Bitcoin ETFs also recorded strong performance, with a combined $817.5 million flowing in on November 12. Geraci highlighted the broader implications, describing ETFs as a “bridge for the mainstream to access crypto” and predicting that once the bridge is fully established, mainstream adoption will accelerate.
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This institutional momentum comes as Ether itself has enjoyed a price surge of 32% over the past week, pushing it above $3,400 and lifting Ethereum’s market cap beyond $400 billion.
