Ethereum ETF Inflows Outpace Bitcoin ETFs for Fifth Straight Day
For the fifth consecutive day, Ethereum ETFs surpassed Bitcoin ETFs in inflows, totaling approximately $3.4 billion, compared to $966 million for Bitcoin. This surge in Ethereum investment is attributed to aggressive corporate accumulation of ETH and a decrease in supply on exchanges. On August 15, Ethereum funds notably added $640 million, led by BlackRock and Fidelity. Analysts state that corporate interest is driven by Ethereum's versatility, smart contracts, and staking opportunities, which Bitcoin lacks. They also mention the complexity of this accumulation amid fears of a potential market correction in September. Experts suggest if the trend continues, Ethereum could see its price reach $10,000, as institutional demand appears robust. Currently, Ethereum's price stands at approximately $4,446, marking a 13% increase over the last week. Despite the bullish sentiment, risks remain, including potential profit-taking by retail investors and the historical trend of market corrections in September.
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