Ethereum Spot ETFs Attract Record $295 Million Daily Inflows – Is ETH Set For New Highs?
Ethereum (ETH) surged nearly 37% in the past week, driven by Bitcoin's all-time-high rally and significant inflows into spot ETH ETFs. The market cap of ETH is approximately $404 billion. On November 11, spot ETH ETFs recorded a daily inflow of $295 million, surpassing the previous peak of $106 million from July 2024. Fidelity’s FETH ETF led with $115.48 million, followed by BlackRock’s ETHA with $101.11 million. Total net assets in spot ETH ETFs stand at $9.72 billion, with cumulative net outflows at $41.30 million. ETH staking levels are at an all-time high, while reserves on exchanges are declining, indicating a potential supply squeeze. The ETH/BTC trading pair is recovering, with resistance around 0.040. Ethereum's decentralized finance (DeFi) activity is increasing, with a total value locked of $62.36 billion, primarily in Lido. ETH trades at $3,291, up 3.1% in the last 24 hours, but concerns about its issuance rate persist.
