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    BlackRock sees surge in Ether ETF investments as cryptocurrency approaches $3000

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    BlackRock, the world’s largest asset manager, experienced a significant increase in investments in its Ether exchange-traded fund (ETF), the highest in over three months, with inflows totaling $60.3 million on November 8. This occurred as Ether’s price approached $3000. Over a week, the ETF collected $84.3 million in inflows. Other ETFs such as Fidelity, VanEck, and Bitwise also experienced inflows. This growth coincides with Ether displaying its largest weekly gains in six months and temporarily surpassing Bitcoin, leading to speculation about a major market trend shift.

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    So, BlackRock, which is the biggest asset manager in the world, just saw a massive jump of people investing in their spot Ether exchange-traded fund (ETF) – the highest it’s been in over three months! On November 8, their iShares Ethereum Trust ETF (also called ETHA) got a whopping $60.3 million in inflows. The last time we saw numbers that high was back on August 6 when ETHA pulled in $109.9 million.

    All this happened when Ether’s price was sitting pretty around the $3,000 mark, even hitting as high as $2,971. Over a week, ETHA managed to collectively pull in a cool $84.3 million in inflows. And it wasn’t just BlackRock having all the fun – Fidelity Ethereum Fund (FETH) got $18.4 million in daily inflows, VanEck Ethereum Fund (ETHV) saw $4.3 million, and Bitwise Ethereum ETF (ETHW) attracted $3.4 million.

    Pretty cool, right? Even more impressive when you consider it was only the day after BlackRock’s spot Bitcoin ETF hit $1 billion in daily inflows for the first time since it launched back in January.

    And Ether’s been doing its thing, showing the biggest weekly gains it’s had in six months. Even though Bitcoin’s momentum paused for a bit over 24 hours, Ether’s price peaked at a quarterly high of $2,956, which caused a 6% surge for the ETH/Bitcoin chart.

    Now, with Ethereum temporarily surpassing Bitcoin for the first time in a while, all eyes are on the Ethereum/Bitcoin pair for a potential big flip in the market trend. Benjamin Cowen, founder of Into The Cryptoverse, even said in a recent post that he thinks there’s a pretty decent chance we’ve seen the lowest the ETH/Bitcoin pair will go.

    This is all pretty exciting stuff and we’ll keep you updated as more news comes through!

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