On a notable Wednesday, spot Ethereum ETFs in the U.S. experienced a $729.1 million inflow, illustrating the growing interest in this asset class.
Rising Interest in Ethereum ETFs
On Wednesday, Ethereum ETFs saw a remarkable inflow of $729.1 million. According to SoSoValue, BlackRock’s ETHA led with an influx of $500.9 million, while Fidelity’s FETH attracted $154.7 million. The week started strong with a record $1.02 billion on Monday.
Price Predictions for Ethereum
Analysts from Standard Chartered have significantly revised their year-end price forecast for Ethereum from $4,000 to $7,500. The factors driving this revision include institutional purchases, ETF inflows, and a changed stablecoin policy in the U.S., which support positive market sentiment.
Status of Bitcoin ETFs
In the meantime, spot Bitcoin ETFs in the U.S. recorded a net inflow of $86.9 million on the same Wednesday. This interest is comparatively lower than for Ethereum, although positive inflows for Bitcoin remained consistent through the week.
The sustained interest in Ethereum ETFs and revised price forecasts highlight positive sentiments in the cryptocurrency market. Institutional purchases continue to drive these trends.
