Spot Ether ETFs See $729M in Second-Biggest Daily Inflows, Outperform Bitcoin ETFs
Main Idea
US spot Ether ETFs saw significant inflows totaling $729.1 million in a single day, marking the second-largest daily inflow since their launch, with BlackRock’s ETHA and Fidelity’s FETH leading the inflows.
Key Points
1. US spot Ethereum ETFs attracted $729.1 million in net inflows on Wednesday, the second-largest daily inflow since launch.
2. Over three days, Ethereum ETFs pulled in $2.2 billion, nearly seven times the inflows of Bitcoin ETFs during the same period.
3. Ethereum's price surged to $4,775, up 60% in a month, nearing its November 2021 all-time high of $4,900.
4. Institutional demand is contributing to a supply squeeze, with monthly Ethereum ETF inflows reaching $2.3 billion, equivalent to 500,000 ETH.
5. Bitcoin advocate Samson Mow warned that Ethereum's rally could lead to a reversal, with long-term ETH holders potentially selling to move profits back into Bitcoin.
Description
US spot Ether exchange-traded funds (ETFs) pulled in $729.1 million in net inflows on Wednesday, their second-largest daily haul since launching earlier this year, according to SoSoValue data . Key Takeaways: US spot Ethereum ETFs drew $729.1M on Wednesday, their second-largest daily inflow since launch. Ethereum ETFs have pulled $2.2B over three days, nearly seven times Bitcoin ETF inflows. ETH’s price hit $4,775, up 60% in a month, as institutional demand tightens supply. BlackRock’s ETHA led ...
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