Ethereum is witnessing a noteworthy increase following its first cumulative positive net inflows from ETFs since July, reflecting a positive market response.
Factors Behind Recent Inflows
On both Monday and Tuesday, spot ETH ETFs achieved record daily net inflows of $135.9 million and $295.5 million, respectively. Overall net inflows amounted to $94.6 million. The significant activity followed Bitwise's announcement acquiring Ethereum staking firm Attestant, potentially attracting institutional interest due to a more lenient regulatory environment.
Current Grayscale Performance
In contrast, Grayscale’s ETHE saw significant outflows totaling -$686.7 million, highlighting a stark difference from the inflows seen in spot Bitcoin ETFs this year.
Market Impact
* Ethereum’s price rose by 2.4% in the last 24 hours. * Over the past week, ETH has risen by 25.2%, currently valued at $3,270. * Market cap for Ethereum stands at approximately $400 billion. * Investor optimism is bolstered by recent U.S. elections suggesting a shift toward pro-crypto policies.
The recent developments in Ethereum ETFs highlight how market dynamics can affect investor decisions. Increasing institutional interest and favorable regulatory changes are likely to play a crucial role in shaping Ethereum’s market trajectory.
