Ethereum (ETH) exchange-traded funds (ETFs) are experiencing a surge in interest, with five straight days of net-positive inflows—the first time this has happened. This trend suggests Wall Street investors are increasingly optimistic about Ethereum’s prospects.
For the first time since the SEC approved ETH ETFs, cumulative flows have turned positive, signaling a shift in sentiment. Ethereum had previously lagged behind Bitcoin (BTC) in ETF demand since July, but the recent activity is closing the gap.
Between November 6 and 12, data from CoinGlass shows an unprecedented streak of positive inflows. On November 11, daily inflows reached $295.50 million, the highest to date. BlackRock’s ETH ETF (ETHA) accounted for $101.10 million of this, and the following day, ETHA set a personal record by buying $131.40 million worth of ETH. On November 12 alone, total inflows for all ETH ETFs hit $135.90 million, with BlackRock dominating the market.
As of now, lifetime inflows for all Ethereum ETFs have reached $94.80 million, a sharp turnaround driven by this recent activity.
Expert Insights on Ethereum and ETFs
Eric Balchunas, a senior ETF analyst at Bloomberg, remains optimistic about ETH ETFs while maintaining a preference for Bitcoin spot ETFs. He highlighted that Grayscale’s ETHE has avoided outflows for six consecutive days, describing it as a positive signal for Ethereum’s ETF market.
“Trending in the right direction, ETHE unlock appears to be over too—no outflows in 6 days. Sunny days ahead, although still several country miles behind BTC ETFs,” Balchunas noted.
Despite the optimism on Wall Street, the broader crypto community has expressed concerns over Ethereum’s future. A proposed roadmap to upgrade Ethereum’s consensus layer over the next 5-7 years has drawn criticism. Blockworks co-founder Jason Yanowitz called the plan “actual insanity,” while economist Alex Krüger labeled Ethereum “dinosaur tech” that risks underperforming against newer innovations.
Takeaway
Wall Street’s growing interest in Ethereum ETFs is a positive sign for the asset, but debates about its long-term roadmap could weigh on sentiment. Investors will likely keep a close eye on both ETF performance and developments within the Ethereum ecosystem.
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