Ethereum ETF Inflows Outpace Bitcoin ETFs for Fifth Straight Day
Ethereum ETFs surpassed Bitcoin inflows for the fifth consecutive day, with approximately $3.4 billion added to Ethereum compared to $966 million for Bitcoin over the same period. Corporate treasuries are increasingly accumulating Ethereum, contributing to a supply squeeze as exchange balances dwindle, and have led to significant institutional interest. Notably, Ethereum ETFs attracted $640 million on August 15, bolstered by substantial contributions from BlackRock's ETHA and Fidelity's FETH. Experts note that Ethereum's appeal over Bitcoin stems from its support for smart contracts and opportunities for staking and income generation. This trend is seen as a pivotal shift in institutional investment strategies, with projections suggesting Ethereum might reach $10,000 if this momentum continues. However, concerns over potential profit-taking and historical market corrections in September could impact these inflows and price momentum. Overall, the combination of corporate demand and reduced supply indicates a significant transformation in the crypto asset landscape, favoring Ethereum.
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