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Ethereum ETFs take off 📈

Ethereum ETFs take off 📈

Finally, Ethereum ETFs in the U.S. have collectively flipped to positive flows. Here's why analysts say investors are feeling optimistic about ETH.

Andrew Hayward
November 16, 2024

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📝 What you need to know

Ethereum ETFs haven’t come close to matching the Bitcoin hype from earlier this year, but there’s some good news: The U.S. funds are finally catching on.

After Donald Trump’s election win, spot Ethereum ETFs in the U.S. collectively notched six straight days of inflows for the first time, adding nearly $800 million during that span. That surge finally flipped the all-time ETH ETF flows to positive, which remains true despite two days of modest outflows to finish the week.

Analysts told Decrypt that the launch in July was marred by “awkward” market timing, not to mention sizable outflows from Grayscale’s converted fund. But now with Trump set to take power, investors are upbeat about gaining regulatory clarity for crypto, plus there’s a willingness to explore ETFs based on assets other than Bitcoin.

“The optimism has come back in full force,” said 21Shares Research Analyst Matt Mena.

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😂 Meme of the Day

Source: Twitter

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