According to data from Farside Investors, Ether exchange-traded funds (ETFs) have received more investments from investors compared to their Bitcoin counterparts since November 22.
This was mainly due to a key legal victory for Ethereum’s decentralized finance (DeFi) ecosystem in a US court this week.
Between November 22 and November 27, spot Ether ETFs recorded a net inflow of $224.9 million, while spot Bitcoin ETFs had a net inflow of $35.2 million, with a significant outflow on November 25, according to Farside Investors data. This trend was driven by an 8% increase in the price of Ether, which reached above $3,590 in the past seven days.
An industry executive attributed this price hike to Tornado Cash’s recent legal victory in the US and rumors that Paul Atkins, a pro-crypto advocate, might replace Gary Gensler as the head of the Securities and Exchange Commission (SEC) in a more crypto-friendly stance.
If the trend continues, it could be the first week in which US Ether funds have a higher net inflow than spot Bitcoin ETFs. In the past seven days, Ethereum has risen by 7.7% to $3,590, while Bitcoin has dropped by 2% to $96,780, leading to a rise in the ETH to BTC price ratio, back to 0.037 BTC.
