This significant inflow occurred despite the leading BlackRock iShares Ethereum Trust fund showing a net zero flow. The majority of the inflows went to the Fidelity Ethereum Fund, with $26.9 million, while the remaining $25.4 million was allocated to the Grayscale Ethereum Mini Trust. The other seven spot Ethereum ETFs saw no inflows. However, the total net balance of all these products fell to negative $490 million due to continued outflows from Grayscale’s high-fee ETHE fund, which has lost $3.1 billion in assets under management since its conversion to a spot ETF in July.

Meanwhile, the 11 spot Bitcoin ETFs in the U.S. recorded a net inflow of $621.9 million on November 6, reversing a trend of outflows over the previous three trading days.

According to preliminary data from Farside Investors, although BlackRock’s iShares Bitcoin Trust experienced its second consecutive day of outflows with a $69.1 million loss, it still recorded its busiest day ever with a trading volume of $4.1 billion. The inflows were led by the Fidelity Wise Origin Bitcoin Fund, which received $308.8 million—the largest inflow since June 4. Bitwise, Ark 21Shares, and Grayscale also saw over $100 million in inflows for their respective products.

Spot crypto markets rose by 4% over the past 24 hours, bringing total market capitalization to $2.64 trillion. Bitcoin hit a new all-time high, surpassing $76,000 in late trading on November 6. Ethereum surged 10% in early trading on November 7, reaching $2,872—its highest price since early August.

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The following spot Ethereum ETFs will commence trading on Tuesday:

21Shares Core Ethereum ETF (CETH)
Fidelity Ethereum Fund (FETH)
Franklin Ethereum ETF (EZET)
Invesco Galaxy Ethereum ETF (QETH)
VanEck Ethereum ETF (ETHV)

Cboe stated that it is pleased to announce that the Exchange Traded Product (ETP) will be listed on Cboe and will begin trading as a new issue on July 23, 2024.

This date had been widely anticipated for the commencement of trading. Earlier this week, multiple sources close to the matter had indicated their expectation that the SEC would grant final approvals for trading to begin on July 23rd. This expectation was based on the regulator requesting final filing drafts from firms.

In an unexpected development, Ethereum ETFs had received preliminary approvals from the SEC in May. This came as a surprise as the regulatory body had been scrutinizing Ethereum-focused firms and treating the asset differently from Bitcoin.

Nonetheless, the SEC granted initial approvals for Ethereum ETFs just four months after spot Bitcoin ETFs began trading in the United States.

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The post BREAKING: CBOE Announces Launch Date for Spot Ethereum ETFs! appeared first on Coin Engineer.