Ethereum continues its strong upward run, reaching a new milestone of $4,700. Ongoing investor interest is also leading to record inflows into ETFs.
Record Inflows into Ethereum ETFs
On August 13, U.S. spot Ether ETFs attracted $729 million in net new capital, marking the second-largest daily inflow since their inception. This inflow was just slightly below the record of $1.02 billion recorded earlier this week. Notably, between August 7 and 13, the funds collected about $3 billion in new investments.
Investor Interest in Ether
This week witnessed three of the six largest daily inflows into Ether ETFs. The majority of funds were attracted by BlackRock and Fidelity. BlackRock's iShares Ethereum ETF brought in $500.85 million, accounting for nearly 69% of the total inflow. Fidelity's Ethereum Fund added $154.69 million.
Optimistic Forecasts for Ethereum
Analysts expect that Ethereum will continue to rise and could reach $5,000. The sustained interest from both institutional and retail investors is likely to drive additional capital into Ethereum ETFs.
Given the current trends and growing interest in Ethereum, forecasts remain optimistic. The inflow dynamics and anticipated price rises may further strengthen interest in this cryptocurrency.
