U.S. Ethereum exchange-traded funds (ETFs) have reached a new record of $726.6 million in inflows in just one day. This surge occurred alongside a general interest in altcoins.
Record Inflow to Ethereum ETFs
Wednesday recorded a historic inflow of $726.6 million for Ethereum (ETH) through ETFs. This marks the largest single-day net inflow for Ethereum funds in history. Leading the way was BlackRock's iShares Ethereum Trust (ETHA) with $499 million in inflows, followed by Fidelity's Ethereum Fund (FETH) with $113 million.
Impact on Altcoin Market
Ethereum's rise coincided with a broader altcoin surge, with ETH climbing 8.6% in the past 24 hours, trading near $3,346. Analysts suggest that Bitcoin dominance, currently at 61%, may have peaked, opening additional opportunities for altcoins.
Increase in Corporate Demand for ETH
Corporate demand for Ethereum has also risen significantly. Treasuries now hold over $5.33 billion worth of ETH, accounting for approximately 1.33% of the total supply. Last month, corporations added over $1.6 billion in ETH, with SharpLink Gaming being one of the largest buyers.
The record inflow into ETFs and the growing corporate interest reflect an increasing appetite among investors for Ethereum and altcoins, highlighting shifts in market dynamics.
