In the midst of growing interest in Ethereum, American ETFs for this asset have shown significant gains in recent days, while Bitcoin ETFs show signs of recovery after a recent downturn.
Institutional Interest in Ethereum ETFs
US-based spot Ethereum ETFs experienced a daily net inflow of $443.9 million on Monday, marking the third consecutive positive day. Data from SoSoValue reveals that BlackRock’s ETHA ETF attracted $314.9 million, while Fidelity’s FETH drew in $87.4 million. Other ETFs such as Grayscale Mini Ethereum Trust and those from Bitwise, 21Shares, and Invesco also saw positive inflows. These results confirm the growing interest of investors in Ethereum.
Positive Dynamics for Bitcoin ETFs
Amidst the spot Bitcoin ETFs, BlackRock, Fidelity, and four other issuers collectively recorded a net inflow of $219 million, marking a shift to positive daily cash flow after a six-day streak of outflows. However, there was still noteworthy selling pressure as Bitcoin fell below $110,000 for the first time in over six weeks.
Overall Trends in the Cryptocurrency Market
In light of recent events, analysts note that despite overall market volatility, substantial inflows into both Bitcoin and Ethereum ETFs reflect strong institutional confidence. This confidence persists even during price declines. The boosting interest in Ethereum and its ETFs has gained attention and appears more promising compared to Bitcoin.
Thus, the rising interest in Ethereum ETFs and their positive dynamics confirm changing market preferences and investor perceptions, which may influence the overall cryptocurrency market in the future.
