Record week for Ethereum and Bitcoin funds amid price surges

The 11 spot Bitcoin ETFs in the States continue to enjoy substantial investor demand following the presidential election, with another week of net inflows in the billions of dollars.

This time, the same can and will be said about spot Ethereum ETFs, which are finally emerging as attractive investment tools.

BTC ETF Rocket Tickets

The previous business week, the last of November, was a bit shaky as BTC-based financial vehicles were in the red on Monday and Tuesday, with exits of $435.5 and $122.8, respectively. The week ended with more withdrawals, as Thursday was a national holiday.

However, the trend has changed in the past week. $353.6 million flowed into the funds on Monday, with BlackRock leading the pack once again. It was followed by $676 million on Tuesday, $556.8 million on Wednesday, $766.7 million on Thursday and $376.6 million on Friday. Accordingly, total net inflows for the five-day trading period stood at $2.729.7 billion.

What is particularly intriguing about this week is that almost all of these net inflows came into BlackRock’s IBIT. The world’s largest Bitcoin ETF, which made more history this week, attracted more than $2.6 billion of the total. Nate Geraci, president of the ETF Store, highlighted IBIT’s dominance.

“ETFs holding more btc than Satoshi are against the ethos of btc”…

Imagine a world where investors will be able to receive delivery of btc using the IBIT shares they own (i.e. they can exchange IBIT for btc).

It is coming and will simply be the next step towards full tokenization.

— Nate Geraci (@NateGeraci) December 7, 2024

These impressive figures also affected price movements of the underlying asset. BTC soared above $100,000 for the first time on Thursday and set a new all-time high above $100,350.

The demand for ETF ETFs is already here

At first, Ethereum ETFs struggled to attract any real demand, but the landscape has completely changed in the past two weeks, with $1.4 billion entering funds within that time frame.

Now 10 consecutive days of cash eth ETF entries…

1.4 billion dollars in total.

Includes the 2 best days since the July release.

Advisors and institutional investors are just starting to sniff around here IMO.

— Nate Geraci (@NateGeraci) December 8, 2024

The record day was Thursday, with $428.5 million. $24.2 million on Monday, $132.6 million on Tuesday, $167.7 million on Wednesday and $83.8 million on Friday brought the total to $836.8 million for the week, the best since the creation of the funds in July.

The price of ETH has also soared in recent days, breaking above $4,000 on Friday evening for the first time since March of this year. ETH is up 8% since last Sunday.

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