US Spot Ether Products See $1.8 Billion Net Inflows in December
US spot ether products marked five months since their launch. Significant net inflows began post-election, as illustrated in the monthly flow table below:
| Month | Net Flows |
| July 23-31 | -$484 million |
| August | +$6 million |
| September | -$46 million |
| October | +$43 million |
| November | +$1.1 billion |
| December 1-20 | +$1.8 billion |
Initially, Grayscale’s Ethereum Trust (ETHE) experienced a substantial outflow after converting to an ETF, which was not fully compensated by inflows into other funds. This was followed by three months of stagnant flows, partly due to the need for greater understanding of ETH compared to BTC.
Donald Trump’s election win generated positive sentiment in the crypto market, with bitcoin achieving several all-time highs, while ETH has yet to do so. CoinShares research associate Luke Nolan predicts a potential new high for ETH by February or March, contingent on strong ether ETF flows.
Bitcoin has attracted more institutional investment than ether, with $36 billion in net inflows for bitcoin ETFs compared to $2.3 billion for ether products. Additionally, ETH faces competition from other layer-1 blockchains like Solana, with various fund groups proposing ETFs that would include SOL.
Nolan noted that Ethereum's long-term development approach contrasts with Solana's focus on immediate demand capture. Both strategies serve distinct use cases. Monitoring crypto ETF flows will provide insights into investor sentiment toward BTC, ETH, and potentially other assets entering the ETF space.