Spot Ethereum 
$3,164 ETFs topped the agenda on Monday, seeing their highest daily inflow figures. With the impact of this development, the ETH price increased by 5.5% and rose to the level of $ 3,370. With the latest movements, ETH’s weekly gain reached around 38%.
Record Interest in Spot Ethereum ETFs
On November 11, spot Ethereum ETFs set a new daily record with inflows of $295 million. Fidelity’s FETH ETF, in particular, was the largest contributor with $115.5 million in inflows. While BlackRock’s ETHA ETF received inflows of $100 million, Grayscale mini-ETF (ETH) closed the day with $63.3 million.
Following Donald Trump’s victory last week, interest in Ethereum ETFs has increased day by day. Total inflows into Ether ETFs over the last four days exceeded $500 million. The contribution of BlackRock and Fidelity in this growth was especially noteworthy.
In addition to the record $295 million inflow into spot ETH ETFs today, there was a total of over $500 million in inflows in the four post-election trading days. This situation has led to Ethereum ETFs having increased spot Bitcoin demand in recent weeks. 
$81,605 It shows that it is entering the race with ETF entries. Spot Bitcoin ETFs received more than $1 billion in inflows on Monday, with BlackRock’s IBIT ETF taking the lead.
CoinShares analyst James Butterfill states that these levels are the highest inflows since the Ethereum ETF launch in July. Butterfill emphasized that more and more investors are turning to traditional financial products to gain exposure to cryptocurrencies.
Rise in ETH Price Movements
Ethereum price is in a strong uptrend, up 38% on a weekly basis. ETH is preparing for new record highs while targeting an important level of $ 4,000.
ETH is still moving in an expanding triangle formation. If this formation is exited, the price is expected to move up to $5,450. According to technical analysis, the bull market may gain further momentum after this breakout.
Ethereum’s increase in value has put it ahead of giant financial institutions such as Bank of America, pushing its total market value to over $400 billion. On the other hand, open interest in the Ethereum futures market also hit new highs, reaching $17.93 billion on Monday.
If Ethereum maintains its current momentum, the overall altcoin market is expected to grow in the coming period.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
