Ethereum ETF Inflows Outpace Bitcoin ETFs for Fifth Straight Day
Ethereum ETFs have surpassed Bitcoin ETFs in inflows for the fifth consecutive day, with $3.4 billion added in total compared to $966 million for Bitcoin. Analysts attribute this trend to substantial institutional investments and a significant decline in exchange supply. In particular, BlackRock’s ETHA and Fidelity’s FETH dominated the inflows, contributing $520 million and $57 million respectively. Experts suggest that the corporate interest in Ethereum, driven by its versatility through smart contracts and staking opportunities, has catalyzed this shift. Ethereum continues to attract attention as its price hovers around $4,446, marking a nearly 13% rise over the past week. However, caution is advised, as historical patterns indicate potential market corrections in September that could affect this upward trend. The ongoing accumulation by corporate treasuries underscores Ethereum's appeal as an investment, enhancing its market dynamics beyond Bitcoin's traditional stronghold.
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