Ethereum ETF Inflows Outpace Bitcoin ETFs for Fifth Straight Day
Ethereum ETFs have surpassed Bitcoin ETFs in inflows for five consecutive days, attracting $3.4 billion compared to Bitcoin's $966 million during the same period. On August 15, Ethereum funds received $640 million, with BlackRock's ETHA leading at $520 million. This trend is attributed to corporate treasuries accumulating ETH, diminishing supplies on exchanges, and the appeal of staking yields. Analysts note several factors making Ethereum attractive over Bitcoin, including its support for smart contracts, which foster diverse applications, and its yield-generating capabilities. While the sudden surge in institutional interest has driven the Ethereum price upwards, experts warn of risks like potential profit-taking by retail investors and a historical September market correction. Nevertheless, some analysts predict Ethereum could reach $10,000 in this cycle due to its increased utility and institutional backing.
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