Ethereum ETFs Rebound with $238M Inflows Post-Election Optimism

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Ethereum ETFs See Sudden Reversal, High Inflows Following Post-Election Optimism

The crypto market has seen a remarkable turnaround in recent days, with the exchange of Exchange-Traded Funds (ETFs) experiencing reversals and capital flows. The crypto market’s burgeoning wave of positivism has been linked to the recent positive sentiment surrounding the elections.

On Thursday, Ethereum ETFs received a total net inflow of $238 million, which is an incredible amount and has helped to reverse the trend of previous outflows. The capital injection has resulted in a total cumulative net inflow of $178 million for Ethereum ETFs, marking reversal of fortunes due to various factors.

“Micro jitters” and the unwind of the yen “carry-trade” were contributing factors to the crypto market’s initial decline, which was brought about by the launch of these investment vehicles. The price of Ethereum fell to $3,400 afterward, with analysts pinpointing the high expense ratio of its Grayscale Ethereum Trust (ETHE), which experienced around $1.7 billion in outflows during its first five trading days, as a major factor in the early decline.

Despite this, with the post-election optimism now prevalent, investors are again turning to Ethereum ETFs, leading to higher inflows and a turnaround in the market. Meanwhile, Ethereum has been doing well, as its value has reached $3,130. Over the past 24 hours, it has increased by 1.75%, and its seven-day gain is an impressive 5.35%.

The rise in prices has contributed to the rekindling of interest in Ethereum ETFs, as investors capitalize on the optimism surrounding the crypto market. The data highlights the significant change in investor sentiment. Ethereum-related ETP transactions on Tuesday generated a cumulative net income of $98 million, which more than doubled on Thursday when the fund closed down.

Over the past week, net inflows totaling $575 million have been recorded, indicating a significant turnaround for these investment vehicles. The total net assets of Ethereum ETFs have now reached $9.2 billion, underscoring the growing popularity of these products.

The crypto market is currently undergoing a period of optimism following the election, and it will be interesting to see how long this trend will continue. Ethereum ETFs seem to have found their footing, which has given investors confidence in their performance. As the crypto space continues to evolve, it’s clear that they’re here to stay.

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