Ethereum ETF Inflows Outpace Bitcoin ETFs for Fifth Straight Day
Ethereum ETFs have surpassed Bitcoin funds in inflows for the fifth consecutive day, accumulating approximately $3.4 billion compared to $966 million for Bitcoin. The surge in Ethereum investments is attributed to significant corporate treasury acquisitions, a diminishing supply on exchanges and OTC desks, and Ethereum's staking yield appeal. On a single day, August 15, Ethereum ETFs attracted $640 million, with BlackRock’s ETHA and Fidelity’s FETH leading the way. This period marks a robust institutional interest in Ethereum, contrasting with a historical trend of Bitcoin dominance in the ETF space. Experts speculate that the substantial spike in Ethereum prices could continue if this corporate accumulation trend prevails, with some forecasting it could reach $10,000 per ETH in the current cycle. However, they also caution about potential risks, including a typical market correction in September and individual investors taking profits. Currently, Ethereum’s price is at $4,446, reflecting a 13% increase over the past week.
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