Following the recent election of Donald Trump, Ether exchange-traded funds (ETFs) in the United States have seen a significant increase in inflows as the cryptocurrency market continues to experience a strong rally.
On November 11, these ETFs received a total of $294.9 million in inflows, a considerable increase from their previous high of $106.6 million on their launch day in July.
The leading beneficiary of these inflows was the Fidelity Ethereum Fund (FETH), which attracted a record $115.5 million. The BlackRock-issued iShares Ethereum Trust ETF (ETHA) came in a close second with $100.5 million, while the Grayscale Ethereum Mini Trust ETF (ETH) received $63.3 million.
The Bitwise Ethereum ETF (ETHW) saw an inflow of $15.6 million. Interestingly, all other US spot Ether ETFs reported no inflows during this period.
This surge in inflows coincided with an 8.4% increase in Ether’s price, reaching a 14-week high of $3,384, along with a broader uptick in the cryptocurrency market, rising almost 10% overall.