BlackRock’s iShares Ethereum Trust (ETHA) recorded its second-largest net inflow since its July launch. On November 12, nine spot Ether ETFs saw $135.9 million in net inflows, following a $295 million inflow on November 11, according to Farside Investors.

Back-to-back positive flows mark a pivotal moment for Ether ETFs, pushing total net flows to a positive $107.2 million for the first time since July. This milestone highlights growing investor confidence and a robust recovery from previous net outflows. Specifically, net inflows have now offset over $3.1 billion in net outflows from Grayscale’s Ethereum Trust (ETHE), which lost $33.2 million.

BlackRock’s performance has been noteworthy. The iShares Ethereum Trust (ETHA) saw an inflow of $131.4 million, the second-largest since its launch, only second to the $266.5 million inflow on July 23. Nate Geraci, president of ETF Store, highlighted BlackRock’s achievement on X (formerly Twitter), noting it as a top-six ETF launch in 2024. To date, the fund has amassed $1.67 billion in inflows without a single net outflow day.

Ether ETFs Experience Five-Day Inflows

Several other ETFs also contributed to the positive trend. The Bitwise Ethereum ETF (ETHW) attracted $17 million in inflows, and Grayscale’s Ethereum Mini Trust (ETH) saw $12.7 million. Ark 21Shares and VanEck’s funds experienced minor inflows, further bolstering overall positive sentiment. This marks the fifth consecutive trading day of inflows for Ether ETFs, with nearly $650 million flowing into these funds over the past week.

Geraci emphasized the growing importance of crypto within the asset management industry. In a November 13 post on X, he remarked:

“nothing more interesting in asset management right now than the intersection of crypto and ETFs.” He further noted, “ETFs are simply a bridge for the mainstream to access crypto. Once that bridge is fully built, no going back.”

Optimism is not limited to Ether ETFs alone. Spot Bitcoin ETFs also enjoyed a strong day, with aggregate inflows totalling $817.5 million on November 12, according to Farside Investors. The surge in ETF flows coincides with a significant rally in Ethereum’s price, which has increased by 32% over the past week to surpass $3,400 on November 12. Within just five days, Ethereum’s market cap was above $400 billion this week.

Political Shift Fuels Ether Price Surge

The rally in Ether’s price is partly attributed to the enhanced crypto-friendly business environment in the United States following Donald Trump’s crypto promises for 2025 crypto settlements. This political shift has injected optimism into the market, driving Ether’s price up by over 37% in the past seven days to reach levels not seen since July 24.

The increase in open long ETH positions in the futures market has further fueled this rally. Data from CryptoQuant, an on-chain market intelligence firm, reveals that Ethereum’s total open interest in the derivatives market surged from 8.8 million ETH on November 5 to an all-time high of 9.7 million ETH by November 13.

Source: CryptoQuant

Trader Alan shared his enthusiasm on X, stating, “ETH finally prints us an ATH on futures OI, which shows that interest has finally returned to the boss of altcoins,” and added, “the market can never ignore ETH.” Another trader Olek echoed similar sentiments, noting that Ether’s rising open interest signals “rising liquidity and market engagement.” Olek further commented:

“Ethereum, in particular, is flashing signals of a comeback, with heightened activity indicating the market is primed for movement.”

The bullish sentiment around Ethereum is also supported by on-chain data, which shows increased user interaction with the Ethereum blockchain. CryptoQuant’s data highlights a 26% rise in daily active addresses (DAA) on the Ethereum network, climbing from 306,751 on November 5 to 388,350 on November 13. This uptick in active addresses suggests a surge in Ether token transactions, reflecting heightened user engagement and broader adoption.