Ethereum ETF Inflows Outpace Bitcoin ETFs for Fifth Straight Day
Ethereum ETFs have seen inflows surpassing those of Bitcoin ETFs for the fifth consecutive day, driven largely by corporate treasury accumulation and a diminishing supply on exchanges. Over the last five days, Ethereum ETFs attracted approximately $3.4 billion, compared to $966 million for Bitcoin. Highlights include Ethereum funds bringing in $640 million in a single day, with significant contributions from BlackRock and Fidelity. Analysts suggest the increasing interest is due to Ethereum's advantages, like supporting smart contracts and offering staking opportunities, which appeal to corporate investors. Despite a strong bullish trend, there are cautions regarding potential market corrections in September. Should institutional demand persist, projections for Ethereum's price target may reach up to $10,000 this cycle, reflecting its greater utility over Bitcoin. At present, Ethereum's price is around $4,446, maintaining a significant weekly increase, contrasting with Bitcoin's recent decline in value.
Source đź”—