Ethereum ETF Inflows Outpace Bitcoin ETFs for Fifth Straight Day
U.S. spot Ethereum ETFs have seen remarkable inflows surpassing Bitcoin ETFs for five consecutive days. In the last five days, Ethereum ETFs accumulated approximately $3.4 billion, while Bitcoin ETFs brought in $966 million. This surge in Ethereum investment is attributed to growing corporate treasury accumulation, diminishing supply in exchanges, and the appeal of staking yields. Major Ethereum funds, including BlackRock's ETHA and Fidelity's FETH, led the $640 million inflow on August 15 alone. Analysts suggest that this trend marks a significant shift towards Ethereum, highlighted by its ability to support smart contracts and various income-generating features absent in Bitcoin. Market observers anticipate that despite potential historical corrections in September, institutional demand could propel Ethereum's price significantly, with forecasts suggesting it could reach $10,000 within the current cycle. Ethereum's price decline of 2% on the reporting day does little to diminish its over 13% growth over the preceding week.
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