In July 2023, Ethereum ETFs are showing impressive results with record inflows. Just in the first 11 days of the month, total inflows exceeded $890 million.
Inflows into Ethereum ETFs in July
According to SoSoValue, inflows into Ethereum ETFs are already positioning July to become the second-best month since the launch of these funds in 2024. Institutional investors are actively increasing their positions in Ethereum, contributing to the overall volume of investments.
Ethereum Price Surge
Ethereum's price has surged nearly 20% over the past week, surpassing the $3000 mark for the first time since February. Major asset managers and corporate investors are actively seeking to accumulate ETH amid market competition.
Market Competition and Ethereum's Future
BlackRock, one of the largest ETF issuers, has reportedly secured about 1.5% of ETH’s circulating supply, valued at nearly $4.5 billion. This scale of accumulation not only drives demand but also thins out the available supply on the market, amplifying price pressure. Analysts suggest that Ethereum ETFs could soon eclipse their Bitcoin counterparts in terms of net flows.
The increasing interest in Ethereum ETFs warrants further observation. With rising investment inflows and Ethereum's price growth, the markets may be anticipating broader movements within the altcoin segment.
