With 18 consecutive days of positive net inflows, Ethereum spot ETFs are on track to set a new record. With $240 million in inflows on Wednesday, they are outperforming Bitcoin ETFs. Let’s take a closer look at these encouraging figures.
Ethereum ETFs have been on a roll for several weeks
It has not escaped the attention of any crypto investor that ETH is significantly underperforming BTC during this bull run, and is still down 43.7% from its all-time high (ATH) of $4,878 on November 10, 2021.
Despite this, the asset seems to have regained some momentum in recent weeks, and after a two-year low of $1,384 on April 9, the price of ETH has rebounded by nearly 100% to $2,750:
By extension, this positive momentum is also evident in US spot Ethereum ETFs, which outperformed spot Bitcoin ETFs in terms of net inflows on Wednesday, with $240.29 million on one side and $164.56 million on the other.
Of course, this is not the first time this has happened. According to data from SoSoValue, Ethereum ETFs have had 84 days in which their net inflows in dollar terms exceeded those of Bitcoin ETFs. However, Wednesday was a significant day in many respects.
Beyond the fact that it was the seventh biggest day in terms of net inflows and the 16th biggest day in terms of volume ($830.99 million), it was the 18th consecutive trading day of positive inflows.
Provided that Thursday is also positive, these ETFs will set a new record streak. The longest streak actually lasted 18 days (not to be confused with the number of calendar days), from November 22 to December 18, 2024.
At that time, positive net inflows had accumulated to just under $2.45 billion, which is still nearly twice as much as the more than $1.25 billion in the current streak.
This brings us to the value of assets under management held by US spot Ethereum ETFs. Today, this statistic stands at around $11.05 billion. Despite two months of growth, this is still down 22.6% from the ATH of $14.28 billion on December 16, 2024:
While we are seeing room for growth in terms of price, it should be noted that in ETH equivalent, we are now above the December record. The current amounts correspond to more than 3.98 million units, compared to more than 3.58 million units on December 16.
While ETH is capitalized at $331.48 billion at the time of writing, 3.33% of that capitalization is tied up in ETFs. By comparison, this figure stands at 6.16% for Bitcoin ETFs, which themselves are worth nearly 12 times more than Ethereum ETFs.
