As the price of Ether (ETH) rises, American ETFs based on this cryptocurrency have recorded significant inflows, indicating heightened investor interest.
Impact of ETH Growth on ETFs
The surge in Ether, which surpassed $4,700 for the first time since November 2021, has led to a substantial increase in inflows to Ether ETFs. The rise in prices has created interest from investors, as evidenced by the increased trading volumes.
Inflows Data
According to SoSoValue, Ether ETFs saw $729 million in inflows on Wednesday, marking the second-largest figure on record, following a previous high of $1.02 billion reported on Monday. Overall, Ether ETFs have attracted about $2.3 billion in inflows over the past three days.
Market Predictions and Expectations
Many analysts predict further growth for ETH, given the high inflows and interest from major players. According to expert Ted Pillows, "Ethereum FOMO is just getting started," which may serve as an additional catalyst for growth. At the time of publication, ETH was trading at $4,744, just 3% away from its all-time high.
Thus, the rising prices of Ether and record inflows into Ether ETFs highlight the increasing interest of investors in this cryptocurrency and the potential prospects for its further growth.
