Ethereum Price Surge Analysis, BlackRock Ethereum ETF Inflows Soar

- BlackRock Ethereum Spot ETF (ETHA) Records Highest Daily Inflow in 94 Days - $60.3 Million Inflow Accompanies Rise in ETH Price [Unblock Media] Recently, BlackRock's Ethereum spot ETF has been garnering significant attention. The ETHA ETF recorded an inflow of $60.3 million, marking the highest inflow in 94 days. This underscores BlackRock's standing as the world's largest asset manager and comes alongside a recent rise in ETH prices. On November 8, BlackRock’s iShares Ethereum Trust ETF (ETHA) saw an inflow of $60.3 million, its largest since $109.9 million recorded on August 6. This substantial inflow occurred as ETH prices reached $2,971, with current trading around $2,970. Additionally, this large inflow by BlackRock came shortly after Donald Trump was declared the 47th President of the United States. President Trump's election has stirred expectations of deregulation and pro-business policies, which have acted as factors increasing asset inflows into the cryptocurrency market. Indeed, instances where President Trump's policies positively impacted the crypto market manifested in the anticipation of deregulation of virtual assets. Over the past week, ETHA saw a total inflow of $84.3 million. Concurrently, Fidelity’s Ethereum Fund recorded $18.4 million, VanEck’s Ethereum Fund $4.3 million, and Bitwise’s Ethereum ETF $3.4 million. While these funds’ inflows are smaller compared to BlackRock, considering their share in the overall market, they play a crucial role in increasing competition and liquidity in the cryptocurrency ETF market, potentially attracting more institutional capital. This comes a day after BlackRock’s Bitcoin spot ETF surpassed $1 billion in daily inflow for the first time since its launch. BlackRock’s Bitcoin ETF accounted for approximately 82% of the total inflow of spot Bitcoin ETFs listed in the U.S. that day, totaling $1.34 billion. Meanwhile, Ethereum has been gaining attention for its largest weekly rise since May 2024. While Bitcoin’s momentum has slowed, Ethereum hit a quarterly high, leading to a 6% increase on the ETH/BTC chart. This instance marked the first time in months that Ethereum outperformed Bitcoin, drawing market attention and sparking expectations of a potential trend reversal. Benjamin Cowen, founder of Into the Cryptoverse, posted on November 8, “I believe there’s a high likelihood that we’re seeing a bottom forming for ETH/BTC.”