Ethereum ETFs recorded a remarkable inflow of $729.1 million within 24 hours amid increasing institutional interest. Bitcoin ETFs also demonstrated significant figures.
Record Inflows in Ethereum ETFs
Ethereum spot ETFs attracted record inflows of $729.1 million over the last 24 hours, while Bitcoin ETFs garnered $86.9 million. These record inflows occurred as both cryptocurrencies surged in price.
Institutional Investors Support the Market
The major contributors to the significant inflows into Ethereum ETFs were prominent asset managers like BlackRock and Fidelity. BlackRock alone received approximately $640 million, highlighting its substantial influence on the current investment landscape.
Impact on Prices and the Crypto Market
The substantial inflows led to Ethereum's price climbing past $4,500, while Bitcoin achieved a new all-time high by crossing $124,000. Analysts forecast further growth for ETH, predicting a price target of $7,500 by year-end.
The increasing interest from institutional investors in Ethereum and Bitcoin could significantly impact long-term market adaptations and facilitate the growth of DeFi sectors. Regulatory clarity and strategies from major financial players are expected to drive further investment increases.
