Ethereum ETF Inflows Outpace Bitcoin ETFs for Fifth Straight Day
Ethereum ETFs have seen an influx of about $3.4 billion over the past five days, significantly outpacing Bitcoin ETFs, which garnered $966 million during the same timeframe. This trend reflects continued corporate accumulation of Ethereum, which has been decreasing exchange and over-the-counter (OTC) supply. On August 15, Ethereum ETFs attracted $640 million, driven mainly by BlackRock's ETHA and Fidelity's FETH. This influx represents the fifth consecutive day of ETH inflows surpassing Bitcoin's. Analysts attribute this rise to Ethereum's enhanced utility as a platform for smart contracts and yielding possibilities, making it more attractive than Bitcoin. However, potential risks exist, including a historical market correction in September and retail profit-taking. Some experts speculate that if institutional demand persists, ETH could reach $10,000 this cycle, propelled by its greater utility compared to Bitcoin.
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