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December marked a historic month for Ethereum (ETH) spot exchange-traded funds (ETFs) in the US, with net inflows reaching $2.1 billion. This milestone made it the best-performing month for Ethereum ETFs since their introduction in July 2024. Ethereum ETFs Mark New Monthly High in December According to data on SoSoValue, BlackRock’s Ethereum ETF (ETHA) led the charge in December, recording $1.432 billion in inflows. Fidelity’s Ethereum ETF (FETH) followed with $752 million, while VanEck’s ETHV came third in December with $12 million in net inflows. While Bitwise managed positive net flows of up to $10 million, Grayscale recorded negative flows of $93 million. On December 31, the Grayscale Ethereum Trust ETF (ETHE) continued its struggles, reporting a single-day outflow of $5.6 million and an overall net outflow of $3.64 billion. Crypto researcher Trader T corroborates, recording monthly outflows of $274 million for Grayscale’s ETHE in December. Ethereum ETF Net Inflows. Source: SosoValue Despite the $2.1 billion milestone, Ethereum ETFs still lag behind their Bitcoin counterparts. BlackRock’s Bitcoin spot ETF (IBIT) led the market in 2024, with a staggering $37 billion in net inflows, significantly ahead of Fidelity’s Bitcoin ETF (FBTC) at $12 billion. In contrast, BlackRock’s Ethereum ETF (ETHA) accumulated $3.5 billion in inflows in 2024, followed by Fidelity’s $1.5 billion. While December’s record-breaking performance provided a much-needed boost, 2024 has been a challenging year for Ethereum overall. According to a report by 10X Research, Ethereum has struggled to maintain its dominance as competing blockchains like Solana and Tron have gained traction. Based on this, among other reasons, 10X Research expressed skepticism about Ethereum’s prospects in 2025. “The absence of significant catalysts and the risk of validators unstaking present major challenges. Unless Ethereum can innovate and regain user interest, its underperformance relative to Bitcoin may continue,” the report read. Ethereum’s…

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Filed under: News - @ January 1, 2025 8:04 am