Ethereum has attracted $425 million from SharpLink Gaming, yet traders remain skeptical about this new narrative. This article examines recent developments around Ethereum and their market implications.
Ethereum ETF flows and whale accumulation
Ethereum Spot ETFs have drawn significant volumes of institutional investments over the past weeks. Data shows that daily net inflow to Ethereum ETFs exceeds $11 million. A record inflow was recorded on June 11, exceeding $240 million. This data confirms the interest of major investors in Ethereum.
In Ethereum they trust: Trump Media’s dual Bitcoin and Ethereum ETF filing
Trump Media and Technology Group submitted a filing for a dual Bitcoin and Ethereum ETF with a 75% allocation to BTC and 25% to ETH. This could potentially become the first dual-spot ETF backed by the President of the United States. Ethereum's inclusion in this ETF is seen as a confidence signal amidst rising institutional interest.
Ethereum forecasts: why traders aren’t buying the new narrative
Despite SharpLink's significant investment in Ethereum and support from Trump Media, traders are not actively participating. SharpLink purchased 176,000 Ether for $425 million, which led to a drop in the company's stock. Traders are waiting for more confident signals before making purchases while Ethereum consolidates around the $2,400 level.
Ethereum shows interest from institutional investors, but for significant price growth, the asset needs to overcome the current reluctance among traders to follow the new narratives and market signals.
