According to data provided by analytics platform SoSoValue, Ethereum Exchange-Traded Funds (ETFs) have crossed the $1 billion mark in one-day inflows for the first time.
Ethereum ETF Inflows
The majority of this record comes from BlackRock's iShares Ethereum Trust ETF (ETHA), contributing $640 million. The Fidelity Ethereum Fund (FETH) also had a strong day with an additional $276 million. Following substantial outflows at the month's start, a recovery is now observed, with potential for continued inflows if the trend persists.
Comparison with Bitcoin ETFs
While Ethereum ETFs are performing strongly, Bitcoin ETFs have recorded only modest inflows of $178.15 million. For instance, BlackRock's iShares Bitcoin Trust (IBIT) logged $138 million, which is lower than FETH, and Fidelity Wise Origin Bitcoin Fund (FBTC) received only $13 million.
ETH/BTC Surge Continues
The ETH/BTC pair continues its relentless rise, recently surpassing the 0.036 BTC mark. Over the last two months, ETH has surged by 55%, nearing its all-time high of $4,878, currently trading at $4,293.
Thus, Ethereum ETFs demonstrate impressive results, confirming the growing interest of investors in the altcoin against the backdrop of a decline in interest towards Bitcoin ETFs.
