Among U.S. crypto-spot ETFs, a striking trend is visible: Ethereum ETFs recorded net inflows of $134 million over the past three trading days, while Bitcoin ETFs recorded $455 million to outflow knew.

Among ETH index funds, the Grayscale Ethereum Mini Trust was the outlier, with inflows of $54 million. Close behind were the Ethereum ETFs from BlackRock and Fidelity, which added $50 million and $41 million, respectively.

For the first time since ETF trading began on July 23, the price of the second-largest cryptocurrency broke the $3,600 mark. Still, the November 2021 all-time high of $4,891 remains a long way off.

ETHEREUM ETF IS FLOWING IN 🔥

There is a positive inflow of $ETH ETF for 4 days in a row!

More than $220 Million inflowed resulting in the pump in Ethereum price. 📈

If inflow continues, we can see $ETH to $4000 very soon! 💪 pic.twitter.com/AiLTMOcq5f
— Zia ul Haque (@ImZiaulHaque) November 28, 2024

Slowly, institutional investors seem to be showing more interest in Ethereum. For example, Michigan's pension fund recently became the first major sovereign wealth fund to buy $11 million worth of Ethereum ETF shares.

Meanwhile, almost all US Bitcoin ETFs posted hefty losses. Bitwise's BITB in particular experienced exceptionally high outflows of $226 million, completely wiping out the gains of the record week before.

Only BlackRock's iShares Bitcoin Trust ETF continues to perform positively, with net inflows of $268 million. The world's largest asset manager now manages about 495,488 BTC worth about $47.5 billion.

Despite the recent success, the nine Ethereum ETFs have combined, according to data from Dune "only" 3.03 million ETH under management, worth $10.9 billion. This is a quarter of the BlackRock Bitcoin ETF.

Collectively, all U.S. Bitcoin and Ethereum spot ETFs now manage assets of $117.4 billion. This far exceeds their prediction at the beginning of the year.