US-based spot Ethereum ETH -0.82% exchange-traded funds have logged their highest weekly inflows since early August in a reversal of a streak of six straight weeks of negative outflows, with one fund broaching a significant milestone: more than $1 billion in net asset value. 

According to data from SoSoValue, US-based spot ether ETFs logged $58.7 million worth of inflows on Friday, leading the funds to their first week of net positive inflows, totaling about $84.5 million, after a six-week streak of net weekly outflows. 

Friday's inflows were led by Fidelity's FETH fund, which logged $42.5 million worth of inflows, followed by BlackRock's ETHA fund, which logged $11.5 million worth of inflows. Though Fidelity saw the bigger one-day inflow, BlackRock's fund achieved a significant milestone after Friday's inflows: a total net asset value of over $1 billion just two months after launch, the second such fund to achieve that value following Grayscale's Ethereum Mini Trust. 

That sum puts BlackRock's fund into the top 20% of the more than 3,700 ETFs available on the US market, according to The ETF Store president Nate Geraci. 

Also logging inflows on Friday were Bitwise's ETHW with $5.4 million, Invesco's QETH with $4.3 million, Grayscale's ETH with $2.3 million, VanEck's ETHV with $2.0 million, and 21Shares' CETH with $1.4 million. Franklin's EZET saw no net inflow or outflow, while Grayscale's ETHE saw $10.7 million worth of outflows. 

Three out of five trading days last week led to positive net inflows for the ether funds, leading the funds to their second week of positive inflows since the funds launched in late July. The only other week of positive inflows was the week of August 9, shortly after the funds launched, which was followed by six straight weeks of net negative outflows. The funds now hold $7.4 billion in total net asset value, the highest such value since August 26. 

Following the Federal Reserve's recent rate cut, the price of ether has outperformed that of bitcoin as futures traders hint at renewed optimism towards the world's second-largest cryptocurrency by market capitalization. Transaction fees have also recently surged amid a significant increase in blockchain activity, The Block previously reported. 

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