U.S. spot Ethereum ETFs have surpassed Bitcoin ETFs for five consecutive trading days, with inflows totaling approximately $3.4 billion compared to Bitcoin's $966 million. On August 13, Ethereum funds attracted $640 million, notably led by BlackRock's ETHA and Fidelity's FETH. This increase is attributed to aggressive corporate accumulation of Ethereum, creating a supply squeeze in exchanges and OTC markets. Corporate entities continue to invest heavily in Ethereum due to its appeal as a platform for smart contracts and staking opportunities, which Bitcoin lacks. Analysts warn of a potential seasonal correction in September and the risk of retail profit-taking. Nevertheless, some market experts predict ETH could reach $10,000 in the current cycle, driven by the continued institutional interest and utility of the Ethereum network. As of August 15, the price of Ethereum stands at $4,446, reflecting a significant weekly increase despite recent market fluctuations.

Source 🔗