Spot Ethereum ETFs Record $91 Million Net Inflow After Six Days of Outflows
Investor interest in spot Ethereum ETFs (exchange-traded funds) declined after six consecutive days without net inflows. However, on November 22, there was a significant capital influx, indicating a potential shift in sentiment.
Can Ethereum ETFs Ensure ETH’s Price Recovery?
Data from SoSoValue reveals that U.S.-based spot Ethereum ETFs recorded a net inflow of $91.21 million on November 22, marking the first positive inflow since November 13.
BlackRock’s iShares Ethereum Trust (ticker ETHA) contributed significantly, with approximately $99.7 million in total daily inflows. Fidelity’s Ethereum Fund (ticker FETH) and Bitwise’s Ether ETF (ETHW) also saw inflows of $5.76 million and $4.96 million, respectively. In contrast, Grayscale’s ETHE and ETH experienced outflows exceeding $18.5 million and $621,000, respectively.
The recent inflow indicates a recovery for Ethereum ETFs, which faced six days of outflows totaling $225.6 million. The price of ETH, which had stabilized, also slowed during this outflow period, demonstrating the ETFs' influence on price movements for both Bitcoin and Ethereum.
With the fortunes of U.S.-based Ethereum ETFs improving, ETH's price has begun to rise. Investors anticipate that sustained positive momentum in the ETFs will positively impact the altcoin's price.
Ethereum Price At A Glance
Currently, the price of ETH is approximately $3,423, reflecting a 2.1% increase over the past day and more than a 9% increase for the week, according to CoinGecko data.
