Ethereum ETF Inflows Outpace Bitcoin ETFs for Fifth Straight Day
Ethereum ETFs have seen inflows of approximately $3.4 billion over the past five days, significantly surpassing the $966 million brought in by Bitcoin ETFs during the same period. This ongoing trend marks the fifth consecutive day where Ethereum ETFs have outperformed Bitcoin funds. The surge in Ethereum investments, particularly on August 15, was led by BlackRock's ETHA and Fidelity's FETH. Analysts attribute this shift to increased corporate accumulation, diminishing exchange supply, and Ethereum's staking capabilities. With the current scarcity in supply from exchanges and OTC desks, institutional interest in Ethereum is rising due to its unique features compared to Bitcoin, such as smart contracts and income-generating opportunities. However, there are concerns about potential market corrections historically seen in September as well as retail profit-taking amidst ongoing institutional demand. Ethereum's price fluctuated around $4,446, showing a significant increase over the past week.
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