Ethereum demand is growing, with inflows into spot Ethereum Exchange Traded Funds (ETFs) once again picking up pace. Following the U.S. presidential election and the 25 basis point cut in the U.S. Federal Reserve (Fed) interest rate, the Ethos ETFs have seen net inflows, lowering the total outflow to $324 million from $550 million a few weeks ago.
Ethereum is gaining traction, just like Bitcoin, which hit an all-time high above $77,000. The spot Ethereum ETF inflows have now reached $85.9 million, with BlackRock Ethereum ETF (ETHA) and Fidelity’s FETH seeing inflows at $59.8 million and $18.4 million, respectively. The total inflows into BlackRock’s Ether ETF have now reached $1.4 billion.
Although this is still behind the inflows of spot Bitcoin ETFs in the United States, it is a positive development that could rise further with the growth of altseason.
