Spot Ethereum ETFs End 6-Day Drought With $90 Million Inflow

Name	Symbol	Market	Market Cap ($)	Algorithm
Ethereum	ETHUSD	Crypto	410,321,038,492	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Ethereum

ETHUSD

Crypto

410,321,038,492

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	44.99	1.34%	3,408.79	3,408.66	3,408.73

Price Change

Price Change %

Current Price

Bid Price

Offer

44.99

1.34%

3,408.79

3,408.66

3,408.73

High Price	Low Price	Open Price	Prev. Close	52 Week Range
3,418.65	3,304.20	3,358.14	3,363.80	1,985.72 - 4,093.88

High Price

Low Price

Open Price

Prev. Close

52 Week Range

3,418.65

3,304.20

3,358.14

3,363.80

1,985.72 - 4,093.88

Exchange	Last Trade	Size	Trade Price	Currency
BSTP	08:31:31	0.789000	3,409.80	USD

Exchange

Last Trade

Size

Trade Price

Currency

BSTP

08:31:31

0.789000

3,409.80

USD

Price x Volume	Volume	Base Symbol	Related Pairs
462,428,415.70	137,735.98	ETH	ETHEUR	ETHGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

462,428,415.70

137,735.98

Spot Ethereum ETFs End 6-Day Drought With $90 Million Inflow — Will Ether Price Respond?

24/11/2024 2:30pm

NEWSBTC

Investor interest in the spot Ethereum ETFs (exchange-traded funds) appeared to have waned after failing to register a net inflow day for six consecutive days. However, the cryptocurrency products ended the week on a high with a substantial capital influx on Friday, November 22. This capital inflow represents a shift in investor sentiment, which has not particularly been positive over the past few days. Nonetheless, the market would be hoping that this newly found momentum would persist and perhaps also trigger some bullish action for the ETH price. Can Ethereum ETFs Ensure ETH’s Price Recovery? According to the latest data from SoSoValue, the United States-based spot Ethereum ETFs witnessed a net inflow of $91.21 million on Friday. This positive single-day performance represents the first net inflow for the exchange-traded funds since November 13. Related Reading: This Analyst Correctly Predicted The Bitcoin Price Jump To $99,000, But His Prediction Is Not Done Market data shows that a significant portion of the inflows came from BlackRock’s iShares Ethereum Trust (with the ticker ETHA). The crypto product registered around $99.7 million in total daily inflows to close the previous week. Fidelity’s Ethereum Fund (with the ticker FETH) and Bitwise’s Ether ETF (ETHW) were the only other products to post capital inflows on Friday, recording $5.76 million and $4.96 million, respectively. Grayscale’s ETHE and ETH registered outflows of over $18.5 million and $621,000, respectively. As earlier mentioned, Friday’s performance represents a return to positive inflows for the Ethereum ETFs. Prior to this showing, the crypto products posted six consecutive outflow days, draining a cumulative total of $225.6 million within this period. The price of ETH, which initially seemed to have found its footing, also slowed down during this period of the Ethereum ETFs outflow. This trend highlights the significant influence of the exchange-traded funds on price action — both for the world’s largest cryptocurrency Bitcoin and Ethereum. With the fortunes of the US-based Ethereum ETFs seemingly turning around, the price of ETH has also taken an upward swing in the last couple of days. Investors will be hoping that the positive momentum for the Ethereum ETFs continues and translates into the altcoin’s price. Ethereum Price At A Glance As of this writing, the price of ETH stands at around $3,423, reflecting a 2.1% increase in the past day. The altcoin is up by more than 9% on the weekly timeframe, according to data from CoinGecko. Related Reading: Bitcoin Price Mirrors 2017 Pattern, Is The Top Only 2 Weeks Away After Hitting $100,000? Featured image created by Dall-E, chart from TradingView

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