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In summary
- Ethereum price hit $4,080, boosted by record inflows of $428 million into ETH ETFs in a single day.
- Ethereum and Bitcoin ETFs have seen historic inflows since Trump’s election victory, accumulating more than $750 million this week.
- Despite the rise, ETH is still trading 17% below its all-time high of $4,878 reached in November 2021.
The price of Ethereum (ETH) surpassed $4,080 on Friday, a mark not recorded since it briefly reached that threshold in March.
The upward move comes supported by growing demand for Ethereum ETFs, with the funds collectively recording their largest daily net inflow of more than $428 million on December 5, according to data from CoinGlass.
The significant inflows into Ethereum ETFs come amid growing enthusiasm from analysts. Plume CEO Chris Yin told Decrypt in November that the expectation of more favorable regulation for cryptocurrencies under President-elect Donald Trump is leading to “overdue enthusiasm” for the funds, which began trading in the US. .in July.
That enthusiasm manifested itself on order books this week, with Ethereum ETF products recording more than $750 million in total net inflows, according to CoinGlass, all while the price of Bitcoin surpassed the $100,000 milestone for the first time.
Both Ethereum and Bitcoin ETFs have seen record inflows since Trump secured a second term in the White House a month ago.
Ethereum has lagged behind other major crypto assets like Solana (SOL) and Bitcoin (BTC) for much of the year, failing to reach new all-time highs like others have. However, among major assets, it has posted the biggest gain in the last week, rising more than 10% in that time.
Despite surpassing $4,000, Ethereum remains 17% below its all-time high of $4,878, recorded in November 2021, according to CoinGecko. ETH is currently trading at $4,024, following a gain of almost 4% in the last 24 hours.
Edited by Andrew Hayward
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