Since their launch on the US market a year ago, spot Ethereum exchange-traded funds (ETFs) have amassed assets of more than $16.6 billion, with net inflows of roughly $8.7 billion. US-based Spot Ether ETFs celebrated their first trading anniversary on Wednesday, coinciding with a three-week streak of inflows that includes some of the funds’ best days to date.
Spot Ether (ETH) ETFs from BlackRock, Fidelity, 21Shares, Bitwise, Franklin Templeton, VanEck, Invesco, and two from Grayscale joined the market on July 23, 2024, after being authorized by the US Securities and Exchange Commission (SEC). Since then, according to CoinGlass, the nine ETFs have managed $16.57 billion in assets and received $8.69 billion in net inflows.
Significant Inflows Recorded
An uninterrupted inflow streak over the previous 14 trading days has contributed about half of the total net inflows, or around $3.9 billion. Within the last 30 days, spot Ethereum exchange-traded funds have had some of their biggest single-day inflows ever.
Ethereum (ETH) has had a wild ride over the last year, fluctuating between $1,500 in April and $4,000 in December, all while Bitcoin (BTC) has skyrocketed. It has failed to break above its almost $4,900 all-time high reached in November 2020.
Although they both began trading in early 2024, the Ether ETFs have been somewhat overshadowed by the $54.5 billion in Bitcoin ETF net inflows since their start. Ethereum (ETH) has risen more than 8% in the last 12 months, according to CoinGecko, and is now trading over $3,600, having slipped slightly on the day.
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Source: https://thenewscrypto.com/us-spot-ethereum-etfs-complete-1st-year-on-a-high/