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Record Inflows for US Spot Ethereum ETFs as Altcoin Season Index Surges
ETH ETFs Experience Record Inflows
US spot Ethereum ETFs have seen a surge in inflows, with $294.9 million entering the market on Nov. 11. This marks a significant increase from the previous record set at their debut in July. The CoinMarketCap Altcoin Season Index has also seen a 56% surge, indicating growing momentum for altcoins, particularly led by Ethereum.
Fidelity’s FETH Sets New Record
Fidelity’s spot Ether ETF, FETH, stood out with the most inflows during the latest trading session, reaching a record of $115.5 million. BlackRock’s fund followed closely with $100.5 million in inflows. Grayscale’s Ethereum Mini Trust ETF and Bitwise’s Ethereum ETF also attracted substantial investments, showcasing the increasing interest in Ethereum.
The surge in inflows coincides with Ethereum’s price rise, which has climbed 32% in the past week to $3,244.11.
CoinMarketCap Altcoin Season Index Highlights Transition
The CoinMarketCap Altcoin Season Index has seen a notable 56% increase over the last week, indicating a transition in the market away from a “Bitcoin Season.” While the index does not currently suggest an altcoin season, it does showcase the potential for altcoins to gain momentum.
One standout performer in the altcoin market is First Neiro On Ethereum (NEIRO), which has seen significant growth, with a price surge of over 70,100% in the past 90 days.
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