According to data provided by analytics platform SoSoValue, Ethereum exchange-traded funds managed to surpass $1 billion in one-day inflows for the first time.
BlackRock's iShares Ethereum Trust ETF (ETHA) is responsible for the biggest chunk of these inflows ($640 million).
The Fidelity Ethereum Fund (FETH) also had a strong day with an additional $276 million.
As reported by U.Today, Ethereum ETFs kicked off the month with rather significant outflows. However, it now seems like these products will be able to record another month of massive inflows if the current trend continues.
Overall, Ethereum ETFs now boast a whopping $25.71 billion in total net assets. This sum represents nearly 5% of the altcoin's total market capitalization.
Bitcoin ETFs underperform
In the meantime, Bitcoin ETFs have recorded only rather modest inflows of $178.15 million, SoSoValue data shows.
After previously crushing Ether ETFs, they are now consistently lagging behind as attention shifts to the flagship altcoin, which is currently seeing yet another revival.
BlackRock's iShares Bitcoin Trust (IBIT) logged $138 million in Monday inflows, which is lower than FETH.
The Fidelity Wise Origin Bitcoin Fund (FBTC) has only seen tiny inflows of $13 million.
ETH/BTC keeps surging
In the meantime, ETH/BTC continues its relentless surge, recently surpassing the 0.036 BTC mark. This is the highest level reached by ETH since January.
The pair is up by a whopping 55% over the past two months alone.
ETH is steadily approaching its current all-time high of $4,878. At press time, it is changing hands at $4,293.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team