This week, Ethereum ETFs recorded unprecedented inflows totaling $907.99 million. This phenomenon is attributed to the growing interest from institutional investors and improved regulatory clarity.
Record Inflows in Ethereum ETFs
Ethereum ETFs have experienced their largest weekly inflows since inception, amounting to $907.99 million. The bulk of these inflows occurred over three days: July 9, 10, and 11. July 10 marked the highest single-day inflow at $383.10 million, with July 9 and 11 seeing inflows of $211.32 million and $204.82 million, respectively.
ETH Price Surge and Its Causes
Amid growing interest in Ethereum, the price of ETH has surged over 17% this past week. On July 11, ETH broke the $3,000 mark, a level that has not been reached in months. This price increase is partly fueled by ETF purchases, which reduce supply on the open market.
Comparison of Ethereum ETFs and Bitcoin ETFs
Ethereum ETFs are starting to gain traction, edging closer to Bitcoin ETFs, which have traditionally dominated the crypto ETF landscape. Reports indicate that BlackRock is acquiring significantly more ETH than BTC, suggesting a shift in investor sentiment toward Ethereum. Additionally, Ethereum's robust involvement in decentralized finance, gaming, and NFTs enhances its appeal to investors.
Ethereum ETFs are on track to achieve significant results, actively attracting interest from both institutional and retail investors. These factors may contribute to further growth in the coming months.
