Ethereum ETFs Surge Past Bitcoin in Daily Inflows: $240 Million vs. $164 Million

The net influx of funds into Ethereum-based spot exchange-traded funds (ETFs) over the past 24 hours has reached $240.29 million. In comparison, the corresponding figure for Bitcoin ETFs stands at $164.57 million.

The cumulative net inflow into Ethereum-based structures has amounted to $3.74 billion, showing positive growth for 18 consecutive days.

The largest inflow in the last day was recorded for the ETHA fund managed by BlackRock, totaling $163.64 million, while Fidelity’s FBTC saw an inflow of $37.28 million.

The total assets under management (AUM) for Ethereum funds have reached $11.05 billion, which represents 3.25% of the market capitalization of the cryptocurrency.

Recently, SEC Chairman Paul Atkins voiced support for DeFi. He emphasized that the right to self-custody of assets is a «fundamental American value» that should be upheld in the digital realm as well.

Interest in decentralized finance (DeFi) is growing amidst recent changes in regulation and the expansion of the stablecoin sector.

There is also noticeable activity in the derivatives market, where trading volumes for Ethereum-based derivatives have $87.94 billion.

On June 11, the price of ETH approached the $2900 mark, similar to figures seen in February. As of the time of writing, the asset is trading around $2770, according to CoinGecko.

The AUM for Bitcoin ETF providers amounts to $131.85 billion, or 6.09% of the market capitalization of digital gold.

The IBIT fund from BlackRock holds the largest share in this segment, managing assets worth $72.55 billion.

Since the approval of products by regulators, the total net inflow has reached $45.22 billion.

It’s worth noting that in the latter half of April, the AUM of spot Ethereum ETFs dipped to a record low.