August sees a significant surge in investments in Ether ETFs, resulting in record inflows and a notable increase in ETH prices.
Record Inflows into Ether ETFs
In the first two weeks of August, US Ether ETFs recorded over $3 billion in net inflows, marking their second-strongest performance month to date. According to data tracker SoSoValue, these ETFs are set to record over $2.9 billion in inflows as of now.
Market Trends for ETH
ETH prices peaked at a yearly high of $4,765.83 in August, followed by a sharp drop below $4,500, before quickly recovering. Currently, ETH is trading above $4,600, up nearly 20% this week. This capital influx has pushed total net assets across Ether ETFs to approximately $29.22 billion, signifying a wave of renewed investor interest.
ETH Price Predictions
Fundstrat forecasts that ETH could reach a price range of $12,000 to $15,000 by the end of the year. Thomas Lee, Fundstrat’s CIO, referred to ETH as the "biggest macro trade" for the next 10 years, indicating substantial growth potential.
Ether ETFs are showing impressive results, indicating high investor interest. The consistent growth in ETH prices and positive expert forecasts strengthen Ether's position in the market.
