Ethereum Nears $3,000 as Trump-Led Market Rally Fuels Crypto and ETF Inflows

Trump recent election win has spurred a rally across the crypto market, including Ethereum, which saw its price rise to nearly $3,000. This momentum is mirrored by significant inflows into Ether and Bitcoin ETF.

Ethereum is witnessing renewed momentum as a wave of market enthusiasm sweeps through the crypto industry following Donald Trump’s recent election victory. Bitcoin, Ethereum, and even smaller assets have surged, breaking through previous highs and energizing market participants across the board.

Ethereum (ETH), the second-largest cryptocurrency, has experienced significant growth in recent days. After weeks of hovering below the $2,500 mark, Ethereum has now surged to approximately $2,950, marking a 6% increase within the past 24 hours. This continued growth represents a 14% increase over the past week, bringing ETH to its highest price in over a month.

The rally isn’t limited to Ethereum alone. The latest uptrend is also reflected in inflows into Ether ETFs, which have seen close to $80 million in recent investments. This is the third-largest daily inflow for Ether ETFs since their inception, reversing weeks of underperformance in the ETF market. Investors’ renewed confidence signals positive market sentiment and a hopeful outlook for Ethereum’s continued growth as it approaches the $3,000 milestone.

Bitcoin ETFs have also recorded impressive inflows, particularly following Trump’s win, which appears to have boosted investor confidence in crypto assets. On November 7, BlackRock’s Bitcoin ETF, IBIT, led the surge with a remarkable $1.12 billion in single-day inflows, setting a record for the ETF sector. Other funds followed suit, with Fidelity’s FBTC, Grayscale’s BTC Mini Trust, and Ark Invest’s ARKB drawing in millions of dollars, collectively contributing to the $1.38 billion in total Bitcoin ETF inflows.

As market optimism persists, both Ether and Bitcoin continue to capture investor attention, reflecting the potential for sustained growth across cryptocurrencies and their associated funds.

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