241129: Ethereum ETFs blitz Bitcoin ETFs over last 4 trading days amid ETH rally

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Bitget Academy2024/11/29 05:49

By:Bitget Academy

Spot Ether ETFs racked up $224.9 million in net inflows over the last four trading days — around $190 million more than the spot Bitcoin ETFs. Ether exchange-traded funds (ETFs) have seen more money from investors than their Bitcoin counterparts since Friday, Nov. 22, as Ethereum’s decentralized finance (DeFi) ecosystem scored a key victory in court this week. The spot Ether ETFs have taken in $224.9 million in net inflows over the last four trading days between Nov. 22-27, while the spot Bitcoin ETFs tallied $35.2 million in net inflows over the same timeframe, Farside Investors data shows.

It follows a nearly 8% ETH price rally to over $3,590 over the past seven days. One industry executive has attributed the price gain to Ethereum-based Tornado Cash’s recent court victory, along with reports that crypto advocate Paul Atkins could replace Gary Gensler and lead a more crypto-friendly Securities and Exchange Commission. Depending on how the Nov. 29 trading day goes, it could be the first week that the US Ether funds beat spot Bitcoin ETFs in net inflow.

Source: CoinTelegraph

Futures Market Updates

Less activities took place on Bitcoin and Ether futures markets after some more liquidations on both sides.

Bitcoin Futures Updates

Total BTC Open Interest: $60.99B (+0.25%)

BTC Volume (24H): $64.59B (-33.05%)

BTC Liquidations (24H): $15.33M (Long)/$16.32M (Short)

Long/Short Ratio: 50.68%/49.32%

Funding Rate: 0.0175%

Ether Futures Updates

Total ETH Open Interest: $23.68B (-0.43%)

ETH Volume (24H): $38.30B (+35.90%)

ETH Liquidations (24H): $18.94M (Long)/$13.38M (Short)

Long/Short Ratio: 48.39%/51.61%

Funding Rate: 0.0288%

Top 3 OI Surges

MAJOR: $11.78M (+4,247.84%)

L3: $7.60 (+242.71%)

UXLINK: $60.82M (+90.88%)

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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