Ethereum ETFs surge after US election, approaching positive net flows Ethereum ETFs surge after US election, approaching positive net flows
The spot Ethereum ETFs captured over $500 million in inflows in the four trading days following the US elections.
2 min read
Updated: Nov. 12, 2024 at 9:51 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Spot Ethereum (ETH) exchange-traded funds (ETF) amassed $295.5 million in inflows on Nov. 11, their highest daily positive net flow since launch — bringing them $29 million away from positive net flows.
According to Farside Investors data, Fidelity’s FETH led the inflows, registering $115.5 million, while BlackRock’s ETHA recorded the second highest inflows at $101.1 million.
Grayscale’s Ethereum Mini Trust saw the third highest inflows, with $63.3 million captured over the trading day.
Sunny days ahead
Bloomberg senior ETF analyst Eric Balchunas highlighted that Grayscale’s Ethereum Trust (ETHE) did not register any outflows for the past six days, which he considered a sign that ETHE’s unlocks are over.
He added:
“Sunny days ahead, altho still several country miles behind BTC ETFs..”
Balchunas added that while Ethereum ETFs still lag behind Bitcoin (BTC) ETFs, their individual performance is noteworthy. ETHA, for instance, ranks as the sixth-largest ETF launch by inflows in 2024 out of more than 600 new ETFs.
Institutional support fuels growth
The ETF Store CEO Nate Geraci pointed to a remarkable trend in Ethereum ETFs post-US election results, with over $500 million in inflows over just four days. One key factor behind this surge is increasing institutional adoption, such as the Michigan Retirement System’s recent allocation.
In its latest 13-F filing, the Michigan State pension fund revealed an $11 million investment in Grayscale Ethereum ETFs during the third quarter, making it the first public pension fund to add Ethereum to its portfolio. Notably, the Michigan fund now holds more Ether than Bitcoin, with $7 million in Bitcoin exposure as of September 30.
Balchunas also suggested that introducing options trading for Ethereum ETFs could accelerate inflows, attracting larger institutional investors. However, progress on this front may be slow.
The US Securities and Exchange Commission (SEC) recently delayed its decision on this matter, with some analysts, including Bloomberg’s James Seyffart, predicting a final decision could take until April 2025.
Mentioned in this article
Ethereum 
Bitcoin 
Fidelity Investments 
BlackRock 
Grayscale Investments iShares Ethereum Trust ETF Grayscale Ethereum Mini Trust Grayscale Ethereum Trust Fidelity Ethereum Fund 
James Seyffart 
Eric Balchunas Author 
Gino Matos
Gino Matos is a law school graduate and a seasoned journalist with six years of experience in the crypto industry. His expertise primarily focuses on the Brazilian blockchain ecosystem and developments in decentralized finance (DeFi).
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In this article
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
Bitcoin
$97,206.06
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Fidelity Investments
Fidelity Investments Inc., commonly referred to as Fidelity, is a multinational financial services corporation based in Boston, Massachusetts.
BlackRock
BlackRock, synonymous with global asset management, is an American multinational investment management corporation based in New York City.
Grayscale Investments
Established in 2013 by Digital Currency Group, Grayscale Investments is a trusted authority on digital currency investing and cryptocurrency asset management.
The iShares Ethereum Trust ETF (ETHA) by BlackRock is an innovative investment product designed to provide investors with exposure to Ethereum, one of the leading cryptocurrencies.
The Grayscale Ethereum Mini Trust (Ticker: ETH) is a pioneering investment vehicle designed to provide investors with exposure to Ethereum (ETH) through a regulated security format.
The Grayscale Ethereum Trust (ETHE) by Grayscale is an investment vehicle designed to offer investors exposure to Ethereum, one of the leading cryptocurrencies by market capitalization.
The Fidelity Ethereum Fund (FETH) is an investment product designed to provide investors with direct exposure to Ethereum, one of the leading cryptocurrencies.
James Seyffart is a well-regarded analyst at Bloomberg Intelligence, specializing in Exchange-Traded Funds (ETFs) and the broader fund industry.
Eric Balchunas is an American author, ETF analyst, and Senior ETF Analyst at Bloomberg Intelligence.
