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    US Ether trade funds see a surge post-election, reaching peak levels since September

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    ETH ETF, Ethereum ETF

    30s Summary

    Ether trade funds in the US received a major boost post the presidential election, with investments reaching their highest since late September. On November 6th, nine new Ether ETFs together accumulated $52.3 million. BlackRock’s iShares Ethereum Trust issued no new shares, but the Fidelity Ethereum Fund got $26.9 million and the Grayscale Ethereum Mini Trust, $25.4 million. Despite this, the total net was down by $490 million, due to the outflow from Grayscale’s ETHE fund. Spot Bitcoin ETFs in the US, on the other hand, had a net of $621.9 million on the same day.

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    After the US presidential election, Ether trade-funds in the US got a serious boost. It’s been six weeks since they’ve seen such high flows, especially with nine new Ether ETFs in the US getting a combined total of $52.3 million, all in one day – November 6th!

    Sure, these investments are still small potatoes compared with what’s going in Bitcoin. But this is the highest Ether has gone since way back in late September, according to the guys over at Farside Investors.

    This big jump in investment happened even though the leading fund, BlackRock’s iShares Ethereum Trust, didn’t really move. Most of the new investment money was for the Fidelity Ethereum Fund, which scored $26.9 million. The rest went to the Grayscale Ethereum Mini Trust, which got $25.4 million. As for the other 7 Ether spots, they didn’t see any action.

    Even with all this new money, the total net for all these products is down by $490 million. That’s because a ton of folks have been jumping ship from Grayscale’s super expensive ETHE fund. It’s lost a whopping $3.1 billion in assets since being changed to an ETF back in July.

    Spot Bitcoin ETFs, the US ones anyways, did even better, getting a net of $621.9 million on November 6. This was a nice change from the three previous days when there were more outflows than inflows.

    That happened despite the iShares Bitcoin Trust by BlackRock having its second straight day of losses, losing $69.1 million. But on the flip side, it also had its highest volume day ever with a huge $4.1 billion traded!

    The winning day here was really for the Fidelity’s Wise Origin Bitcoin Fund. It got a whopping $308.8 million in inflows, it’s best day since early June.

    Bitwise, Ark 21Shares, and Grayscale also did pretty well, each getting more than $100 million in inflows.

    Crypto markets rose by a sweet 4% over the past 24 hours, bringing the total cap to a solid $2.64 trillion. This peak was mainly because Bitcoin hit a new top record of over $76,000 in late trading on November 6.

    Ether also had a good day, going up 10% to hit a daily high of $2,872 in early trading on November 7, which was its best since early August.

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