SEC sues Touzi Capital for allegedly defrauding over 1,200 crypto investors

Improved outlook for the DeFi space and warmer regulatory climate with incoming U.S. administration are main drivers behind the sentiment shift towards ether, LMAX strategist Joel Kruger said.

What to know:

ETH is the “most obvious catch-up trade this cycle,” one trader said.

Spot-based ether ETFs recorded their strongest daily inflows on Friday, outpacing their bitcoin counterparts through the day and this week.

After lagging behind BTC this year, ETH’s price outperformed on both a weekly and monthly basis.

Spot ethereum (ETH) exchange traded funds (ETF) in the U.S. saw record daily inflows on Friday, another sign that the second-largest cryptocurrency is gaining momentum as a catch-up trade after vastly underperforming bitcoin (BTC) this year.

The nine products combined booked $332.9 million in net inflows during Friday’s shortened trading session, data compiled by Farside Investors shows. BlackRock’s iShares Ethereum Trust (ETHA) and Fidelity Ethereum Fund (FETH) led, attracting $250 million and $79 million in fresh funds, respectively.