Spot Ether exchange-traded funds in the United States saw their highest inflows in six weeks as crypto markets gained in the wake of the US presidential election.
The nine recently launched spot Ether (ETH) ETFs saw a net aggregate inflow of $52.3 million on Nov. 6.
While this is a fraction of the inflows for spot Bitcoin (BTC) ETFs, it was the highest for the Ether funds since Sept. 27, according to Farside Investors.
The bumper inflow day came despite the leading fund, BlackRock’s iShares Ethereum Trust, showing a net zero flow.
Most of the inflows were for the Fidelity Ethereum Fund, which had $26.9 million. The rest were for the Grayscale Ethereum Mini Trust, which had $25.4 million. The remaining seven spot Ether ETFs had zero flows.
This brings the total net aggregate for all the products to a negative $490 million due to the continued exodus from Grayscale’s high-fee ETHE fund, which has lost $3.1 billion in assets under management since it converted to a spot ETF in July.
Total spot Ether ETF flows. Source: CoinGlass
Spot Bitcoin ETFs inflow $622 million
Meanwhile, the 11 US spot Bitcoin ETFs fared better, recording a net inflow of $621.9 million on Nov. 6, reversing a trend of three consecutive trading days of outflows.
It came despite BlackRocks iShares Bitcoin Trust seeing its second consecutive day of outflows, losing $69.1 million, according to preliminary data from Farside Investors. It was BlackRock’s biggest volume day ever, with $4.1 billion traded.
The inflow day was led by the Fidelity Wise Origin Bitcoin Fund, which had a whopping $308.8 million in inflows, its largest since June 4.
Bitwise, Ark 21Shares, and Grayscale all saw more than $100 million in inflows for their respective products.
Related: BlackRock's Bitcoin ETF sees 6th ever outflow on US election day
Spot crypto markets were up 4% over the past 24 hours, bringing total capitalization to $2.64 trillion as Bitcoin notched another all-time high above $76,000 in late trading on Nov. 6.
Ether awoke from its slumber, surging 10% on the day to hit an intraday high of $2,872 in early trading on Nov. 7, its highest price since early August, according to CoinGecko.
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