Ethereum is showing a positive trend following the launch of exchange-traded funds (ETFs). Net inflows are evident for the first time in a while.
Spot ETH ETF
On Monday and Tuesday, spot ETH ETFs recorded their highest daily net inflows, reaching $135.9 million and $295.5 million, respectively. These inflows contributed to a cumulative net inflow of $94.6 million by Wednesday, coinciding with Bitwise's acquisition of Ethereum staking firm Attestant.
Grayscale’s Situation
In contrast to the consistent inflows for spot Bitcoin ETFs since January, spot ether ETFs have consistently experienced more outflows. As of September 23, cumulative net inflows for Grayscale’s ETHE dropped to -$686.7 million due to outflows in USD.
ETH Price Growth
The ETH price increased by 2.4% in the last 24 hours and by 25.2% over the past week, trading at $3,270. This marks the highest level seen in over three months. The positive trend was driven by fears of missing out (FOMO) and the election of a crypto-friendly administration in the U.S.
These positive developments in Ethereum ETFs once again highlight the impact of market fluctuations on investor behaviors. Particularly, the expectations of institutional investors and improvements in regulations can shape Ethereum’s future performance.
