Ethereum ETF Inflows Outpace Bitcoin ETFs for Fifth Straight Day
Ethereum ETFs have experienced significant inflows, totaling approximately $3.4 billion over the past five days, while Bitcoin ETFs have gathered only $966 million during the same period. Major contributors to Ethereum's success include aggressive corporate accumulation, declining exchange supplies, and staking yields. On August 15, Ethereum ETFs drew $640 million, with BlackRock’s ETHA and Fidelity’s FETH leading the charge. This period marks a notable shift in institutional interest towards Ethereum, driven by its unique features such as smart contracts and the potential for income generation. Analysts have observed record low balances across exchanges, indicating a significant supply squeeze. However, they caution that historical trends suggest potential corrections in September, which could impact current inflow momentum. Despite these risks, many experts believe the upward trend could continue, potentially pushing Ethereum's price past $10,000 in the current cycle.
Source 🔗