US investors have poured more into spot ether exchange sales funds than Bitcoin counterparts over the past six days as institutional interest in Ethereum skyrocketed this week.
According to Farside Investors, Spot Ether ETFS has recorded a net inflow of around $2.4 billion over the past six days.
Ether ETF inflows surpassed Bitcoin ETFs on each trading day over the past six days.
Net Ether ETFS inflows over the past six days reached $23.9 billion. sauce: Farside Investor.
BlackRock’s Ishares Ethereum ETF (ETHA) is the largest beneficiary of recent inflows, with the fund seeing net inflows of $17.9 billion, equivalent to nearly 75% of total inflows over the six-day period.
Etha recently became the third fastest ETF, earning $10 billion in managed assets. This feat was achieved in 251 trading days.
Meanwhile, the Fidelity Ethereum Fund (Feth) registered its highest day on Thursday, with the fund witnessing a net inflow of $210 million. The fund recorded a net inflow of $202 million on December 10, 2024, surpassing its previous record by 4%.
Related: Bitcoin, ether ETF, clock clock on the second day of record inflow
Institutional demand for ETH has been addressed in recent weeks.
Bitmine Immersion Technologies has bought $2 billion worth of ETH over the past 16 days and pushed the company to become ETH’s biggest corporate holder.
Currently, companies that own ETH at their respective Treasury ministries have 2.31 million ETH, equivalent to 1.91% of ETH distribution, according to their strategic ether reserves.
Galaxy Digital CEO Michael Novogratz predicts the price of the ETH will reach $4,000. He further said ETH will outperform BTC in the next six months.
Novogratz pointed out that both Bitmine Immersion Technologies and Sharplink games have purchased a large amount of ETH that can create a supply shock.
US Bitcoin ETFs Break Inflow Streak
On Monday, the Spot Bitcoin ETF defeated a 12-day inflow streak as BTC ETFS collectively saw a net spill of $131 million. Before Monday, the 12-day net inflow was collectively $6.6 billion.
SwissBlock Research expects this trend to continue, as the research firm said.
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