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Fidelity’s FETH ended the last trading day of 2024 with a notable $31.8 million inflow in the Ethereum exchange-traded fund (ETF) market. Data from Farside Investors reveal that Fidelity’s performance contributed to the market closing in the green with a $36 million inflow.
Fidelity ensures Ethereum ETFs end year in green
Fidelity’s FETH rebounded from an outflow of $20.4 million the previous day to record its last day of inflow for 2024. The outflow tainted Fidelity’s record streak of inflows in December.
Vladislav SopovGrayscale's ETH was the only other asset manager with inflows, with $9.8 million. Grayscale’s Ethereum Trust ETHE suffered a $5.8 million outflow, while all the other asset managers, including BlackRock’s ETHA, registered zero flows on the year's last trading day.
BlackRock and Fidelity have bolstered the Ethereum ETF market performance since their launch in July 2024. Despite kicking off with a slow start, the Ethereum ETF market has gained traction among institutional investors as the days go by.
Although Ethereum ETF still lags behind Bitcoin ETF, analysts see prospects in the growth trajectory of the product.
Ethereum ETFs outpace Bitcoin in year-end inflows
Comparing the inflows on the last trading day of both assets reveals the Ethereum ETF surpassed the Bitcoin ETF in net inflows. Bitcoin ETF managed $5.3 million compared to the $36 million recorded by Ethereum ETFs.
This suggests that institutional players might have decided to split their interest to invest in both asset classes. If this is the case, it could indicate that 2025 has the likelihood of seeing Ethereum and Bitcoin ETFs struggling for dominance.
Gamza KhanzadaevHowever, Ethereum has been unable to breach the $3,600 price level in the cryptocurrency market. ETH has suffered volatility as it attempts to retest the $4,000 mark it attained earlier in December. Investors look forward to a shift in 2025.
As of this writing, ETH is changing hands at $3,335.88, a 2.54% decline in the past 24 hours.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Alex Dovbnya
Vladislav Sopov
Dan Burgin