Investors are pouring money into spot Ethereum (ETH) exchange-traded funds (ETFs) at a record pace amid a broad rally in cryptocurrencies.
Flows into Ethereum ETFs hit a record $295.5 million U.S. on Nov. 11, with funds managed by BlackRock (BLK) and Fidelity each attracting a net $100 million U.S. of investor capital.
The record inflows into Ethereum ETFs come as the entire crypto sector rallies following the election win by Donald Trump on Nov. 5.
Ethereum’s price has risen 12% in the last five days to trade at $3,250 U.S. per digital token. Year-to-date, Ethereum’s price is up nearly 40%.
At the same time, the price of Bitcoin (BTC), the largest crypto by market capitalization, has risen to a record high of just below $90,000 U.S.
Bitcoin ETFs attracted $1.1 billion U.S. on Nov. 11, the second-highest daily amount on record.
The market cap of Bitcoin now stands at a record $1.78 trillion U.S., surpassing silver as the eighth-largest asset on the planet.
Bitcoin is currently trading at $86,000 U.S., having pulled back about 2% in the last 24 hours.
Investors continue to bet on less regulation and more widespread adoption of cryptocurrencies under a second Trump presidency.
