Recent data on inflows into Ethereum ETFs show a significant value of $524 million, highlighting the growing interest of investors in this asset.
Inflows into Ethereum ETFs
According to SoSoValue, the daily net inflow into Ethereum ETFs is recorded at $523.92 million, with a total fund volume of $27.6 billion. Data from the last six days shows fluctuations: the maximum inflow was $1.02 billion on August 8, while the minimum was -$523.92 million on August 4, when the price of Ethereum fluctuated between $4,259 and $3,669.
Comparison with Bitcoin ETFs
Bitcoin is currently trading at $119,785, increasing by 0.64% in 24 hours. The total inflow in Bitcoin ETFs amounted to $65.94 million, which is lower than the $178.15 million recorded the day before. Nevertheless, there is hope for increased inflows given the high interest from institutional investors.
Ethereum's Market Prospects
Ethereum is currently demonstrating steady growth, attracting increasing amounts of capital. Investors are starting to trust this asset, which may signal further investments in Ethereum, positioning it as a competitor to Bitcoin in the long run.
With increasing inflows and backing from major players like BlackRock and BitMine, Ethereum ETFs continue to gain popularity, potentially changing the dynamics of the cryptocurrency market and increasing investor confidence.
