Ether ETFs gain $224.9M as Ethereum price rallies to $3,590

Ether (CRYPTO:ETH) exchange-traded funds (ETFs) have seen significant investor interest, recording $224.9 million in net inflows over the past four trading days, far outpacing the $35.2 million net inflows into spot Bitcoin (CRYPTO:BTC) ETFs during the same period, according to Farside Investors.

This surge comes amid an 8% price increase for Ethereum, which has reached $3,590 over the past week.

Ethereum’s recent rally is partially attributed to a U.S. court decision favoring the Ethereum-based Tornado Cash protocol and speculation about a potential change in SEC leadership.

Reports indicate that crypto advocate Paul Atkins may replace Gary Gensler as Chair of the Securities and Exchange Commission, fostering optimism for a more favorable regulatory landscape.

“This underperformance was previously justified before the U.S. Presidential election, but with expectations of a more favorable regulatory environment, it now presents a potential opportunity,” stated Markus Thielen, founder of 10x Research, commenting on the developments.

Bitcoin ETFs have also had a notable November, achieving $6.2 billion in net inflows, including $3.1 billion in a single week.

However, Ethereum ETFs have outperformed recently due to the growing interest in decentraliaed finance (DeFi) and Ethereum’s potential to catch up with other cryptocurrencies like Bitcoin and Solana.

Additionally, demand for leveraged Ether ETFs has risen sharply, increasing by 160% since Donald Trump’s presidential election victory, as noted by K33 Research.

Analysts suggest that Ethereum’s lag behind Bitcoin in this bull cycle positions it as a strong contender for future growth, further supported by its role as a dominant DeFi platform.

At the time of reporting, the Ethereum price was $3,564.13.