On November 29, 2024, spot Ethereum (ETH) exchange-traded funds (ETFs) in the U.S. experienced record daily inflows, signaling a resurgence in investor interest.

This surge marked the fifth consecutive session of net inflows for Ethereum ETFs, culminating in the second strongest week overall with $455 million in total inflows, despite a shorter trading week due to Thanksgiving.

During the trading session on that Friday, the nine Ethereum ETF products saw a combined total of $332.9 million in net inflows, according to data from Farside Investors.

Leading the charge was BlackRock's iShares Ethereum Trust (ETHA), which attracted $250 million, while the Fidelity Ethereum Fund (FETH) brought in $79 million.

As of November 30, 2024, Ethereum's price reached a five-month high exceeding $3,700, outperforming Bitcoin on both weekly and monthly metrics.

In contrast, spot Bitcoin (BTC) ETFs recorded $320 million in inflows on the same day but faced net outflows during the same week.

Crypto trader Edward Morra described the strong inflows into Ethereum as 'the most obvious catch-up trade of this cycle,' highlighting the renewed interest.

Ethereum's recent traction follows a period of underperformance, coinciding with a surge in interest for altcoins and decentralized finance (DeFi) after Donald Trump's election victory.

Additionally, the open interest for ETF futures on the Chicago Mercantile Exchange (CME) reached an all-time high of nearly $3 billion, reflecting growing institutional interest in Ethereum.