Ethereum ETF Inflows Outpace Bitcoin ETFs for Fifth Straight Day
Ethereum ETFs have outperformed Bitcoin ETFs in inflows for five consecutive days, with a total of approximately $3.4 billion flowing into Ethereum compared to $966 million for Bitcoin during this period. The notable surge in Ethereum inflows is tied to increased corporate acquisitions, significantly depleting exchange and over-the-counter supply. Analysts attribute this trend to Ethereum's superior functionalities, such as its support for smart contracts, staking capabilities, and broader application potential, which appeal more to institutions than Bitcoin. Major players in the market, including BlackRock and Fidelity, have led the way with substantial contributions to Ethereum ETFs, signaling a shift of institutional interest toward Ethereum. Despite the bullish sentiment, there are concerns regarding potential market corrections, especially in the historically volatile month of September. Nevertheless, experts forecast that sustained institutional demand could maintain upward momentum for Ethereum as it approaches new price milestones, possibly reaching $10,000 in this cycle.
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