Spot ETH ETFs clocks highest daily inflow day: ‘Alt rotation has begun’
Spot Ether ETFs in the United States set a record for daily inflows on November 29, with $332.9 million entering the market, surpassing the previous high of $295.5 million reached earlier in November. BlackRock led this surge, contributing $250.4 million, marking a substantial moment for the iShares Ethereum Trust, which has now attracted over $2 billion since its inception. Ether's price increased by 1.88% to $3,662 on the same day. This influx indicates a possible shift, as ETH ETFs recorded higher inflows than spot Bitcoin ETFs, which had inflows of $320 million on that day. Experts see this as a sign that institutional investors are taking a renewed interest in alternatives to Bitcoin, with the Ethereum decentralized finance (DeFi) space gaining momentum following a recent court win. Some analysts believe this marks the beginning of an 'alt rotation' in crypto investments, as the market shows signs of increased demand for Ether over Bitcoin. In recent days, Ether ETFs have consistently maintained positive cash flows even as Bitcoin ETFs faced outflows.
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