This week has seen significant increases in investments in spot Ethereum ETFs, which may set a new record since their inception.
Record Inflows for Ethereum ETFs
Over this week, Ethereum ETFs attracted more than $2 billion in investments. The week started with a record inflow of $1.02 billion coming into Ethereum Spot ETFs on Monday. Further inflows included another $523 million on Tuesday, and $729 million on Wednesday. If this week concludes with positive inflows, it will be the largest weekly inflow yet since Ethereum ETFs were launched.
Comparison with Bitcoin ETFs
While Ethereum ETFs are showing impressive results, Bitcoin ETFs experienced lower inflows. Yesterday, spot Bitcoin ETFs had about $86.91 million in net inflows compared to $729 million for Ethereum. These data points indicate that firms such as BlackRock and Fidelity are playing a key role in the inflows into Ethereum ETFs.
Outlook for Ethereum
Year to date, Ethereum (ETH) has posted a gain of 28%, while Bitcoin is up 27%. This trend makes Ethereum more attractive for investors. The total assets of Ethereum ETFs are now around $29.7 billion, which is about 5.22% of Ethereum's total market value. Thus, ETFs are becoming an increasingly significant part of the crypto market.
The strong growth in investments in Ethereum ETFs underscores the rising interest in Ethereum, which could lead to new price records.
