- Record-breaking ETF inflows show strong crypto interest.
- BlackRock’s ETF led with $499 million inflow.
- Ethereum trading surged, impacting other cryptocurrencies.
US spot Ethereum ETFs experienced an unprecedented inflow, led by BlackRock’s iShares Ethereum Trust, drawing nearly $500 million in a single day. This marked the highest daily inflow for Ethereum ETFs since their inception.
The recent data supports the continuation of Ether’s price uptrend. Growing inflows into US spot Ether ETFs are a major driver… These inflows, which go directly into cold custody, are not immediately available for resale, contributing to the bullish sentiment.
— Felix Xu, Partner, ZX Squared Capital
The largest contributors to these inflows were BlackRock and Fidelity, with BlackRock leading at $499 million. Overall, institutional bodies showed heightened interest, emphasizing Ethereum’s growing significance in the crypto market.
The inflows have spurred a substantial market reaction, with Ethereum rising over 23%. As focus shifted, Bitcoin and other altcoins experienced selling, indicating a rotation towards Ethereum.
This financial surge implies a pivot in market interest, potentially leading to sustained investment in Ethereum. Experts believe these inflows will ensure strong ETH market momentum without immediate retracement concerns, unless major market changes occur.
Market dynamics suggest future optimism for Ethereum’s growth, supported by expert analysis. The historical context of similar Bitcoin ETFs indicates potential sustained price rises and increased DeFi protocol interest for ETH.
