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Ethereum spot ETFs notch a record of almost $3 billion in inflows

BitMine Immersion Technologies announces scooping more ethereum, while BTCS Inc. to pay ethereum dividend to shareholders.

Sage D. Young

US spot ethereum ETFs racked up a new record high of $2.9 billion in inflows last week, extending their streak of positive flows to 14 consecutive weeks, data from SoSoValue shows. 

Despite the inflows, the price of ethereum has dropped more than 5% in the last 24 hours to around the $4,300 level, a steeper drop than bitcoin and XRP, CoinGecko recorded. In the same period, over $190 million ethereum long positions were liquidated on nine trading platforms, including Binance and HyperLiquid, per CoinGlass

The price action comes as a number of ethereum treasury firms made public statements Monday morning:

  • BitMine Immersion Technologies announced holding over 1.5 million ethereum tokens worth about $6.6 billion and said it’s the second-largest crypto treasury globally behind bitcoin mega-stockpiler Strategy.

  • The rebrand from 180 Life Sciences Corp. to ETHZilla is officially complete and the company is now trading under new ticker symbols, according to a press release, which added that ETHZilla has accumulated 94,675 ethereum tokens with an average acquisition price of $3,900, giving its total a value of $419 million. The firm, focused on becoming an “accumulation vehicle” for ethereum, has about $187 million in cash equivalents.

  • BTCS announced on X that it will pay shareholders a one-time blockchain dividend, which it called a “Bividend.” It will consist of $0.05 per share in ethereum tokens and an additional one-time $0.35 per share “ethereum loyalty payment to shareholders who move their shares to book entry with our transfer agent and hold them there through January 26, 2026,” to reward long-term shareholders.

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$1.2B

XRP ETFs have now crossed $1 billion in assets since the funds launched, according to SoSoValue, which shows total assets of $1.18 billion.

In September, the SEC approved generic listing standards, which paved the way for speedier listings and opened the floodgates for these products, and shortly after, Rex-Osprey launched the first spot XRP ETF available in the US.

Canary followed suit in November, launching an ETF trading on the Nasdaq under the ticker XRPC, which saw a record $58.5 million in trading volume on its first day. It’s the largest XRP ETF in the US, with $342 million in assets.

Grayscale, Bitwise, and Franklin Templeton also launched their own XRP ETFs in November. On December 11, 21Shares joined the XRP fund party.

It’s a noteworthy green shoot in the crypto space, as bitcoin and its ETFs have struggled, and XRP itself is down nearly 15% over the past month.

Jake Hanley, managing director and senior portfolio specialist at Teucrium Investment Advisors — which launched the first-ever XRP-based ETF in April, the 2x Long Daily XRP ETF — told Sherwood News that he is not surprised to see this level of interest in the XRP ETFs.

“We have long held that XRP and the Ripple ecosystem present a unique investment case among crypto assets. Crossing the $1 billion mark is yet another signal of the significant vote of confidence investors have in this increasingly important asset and ecosystem,” Hanley said.

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New bitcoin AfterDark ETF will be bitcoin at night, Treasurys by day

Tidal Trust II submitted form N-1A with the SEC to register a bitcoin ETF designed to systemically capture the cryptocurrency’s overnight return profile, a time window that delivered a significant portion of bitcoin’s upside last year.

The Nicholas Bitcoin and Treasuries AfterDark ETF provides long bitcoin exposure during US overnight hours, from the closing bell until the following morning’s market open, when the fund intends to unwind its positions, according to a document filed with the SEC on Tuesday. 

To gain that exposure, the ETF may use a number of methods, including bitcoin futures contracts, US-listed ETFs, or exchange-traded options on such bitcoin underlying funds. When the market is open and daytime trading is active, the fund’s portfolio will consist of US Treasury securities and other cash equivalents. 

In 2024, most of bitcoin’s gains occurred after-hours, senior Bloomberg ETF analyst Eric Balchunas reported:

The AfterDark ETF filing comes as bitcoin crossed $94,000 on Tuesday, rising 4.5% in the last 24 hours. Even though spot bitcoin ETFs saw nearly $60.5 million in outflows on Monday, the investment vehicles have a cumulative net inflow of $57.6 billion, per SoSoValue.

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