Ethereum ETF Inflows Outpace Bitcoin ETFs for Fifth Straight Day
Ethereum ETFs have seen significant inflows, outpacing Bitcoin ETFs for the fifth consecutive day, with approximately $3.4 billion in investments recorded compared to $966 million for Bitcoin ETFs. This trend is attributed to the aggressive accumulation of Ethereum by corporate treasuries, which has led to a decrease in supply on exchanges and over-the-counter (OTC) markets. On August 15, ETH ETFs added $640 million, supported by substantial contributions from BlackRock and Fidelity. Analysts link the rise to Ethereum's versatility due to its support for smart contracts and staking opportunities, making it attractive for institutional investment. However, they caution about potential risks, including historical market corrections and retail profit-taking. Despite these risks, some experts predict Ethereum could reach $10,000 in this cycle if the trend continues. At the time of reporting, Ethereum's price was around $4,446, reflecting a 13% increase over the week.
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