Spot Ethereum ETFs in the U.S. set a record in December, surpassing $2.08 billion in monthly net inflows, nearly double the $1 billion seen in November, according to data from SoSoValue. This marks a significant milestone for the nine ether ETFs currently available in the market.
BlackRock’s ETHA fund led the surge, pulling in $1.4 billion in net inflows across 13 consecutive days of positive activity. Fidelity’s FETH fund followed with $752 million, while Grayscale’s ETHE experienced $274 million in net outflows during the same period.
Analysts attribute the record inflows to renewed market activity, driven by year-end fund reallocations and evolving market expectations. “The spot ETH ETFs saw substantial inflows as the new year brought in fresh capital, expiring positions from 2023, and a shift in focus toward DeFi and AI applications in the Ethereum ecosystem,” said Nick Ruck, director at LVRG Research.
The inflows brought cumulative net inflows for ether ETFs to over $2.6 billion and total net assets to $12.12 billion, representing more than 3% of ether’s market capitalization. The activity coincided with ether’s mid-December rally above $4,000 before stabilizing at around $3,500. Ether is currently trading at $3,409, up 2.23% in the past 24 hours.
In comparison, spot bitcoin ETFs recorded $4.5 billion in net inflows for December, down from the record $6.4 billion in November. Bitcoin ETFs ended the year with total net inflows of $35.24 billion and total net assets of $105.4 billion, accounting for 5.7% of bitcoin’s market cap.
Bitcoin reached an all-time high of $108,135 on Dec. 17 and is currently trading at $95,556, up 2.18% in the past day. “As seen throughout the year, TradFi inflows remain the dominant driver behind spot performance,” said Augustine Fan, Head of Insights at SOFA.org.