A naukri.com initiative
Coindoo
4w
425
Image Credit: Coindoo
Ethereum ETFs Are Exploding — Inflows Surge 5x as Bitcoin Lags Behind
- Inflows into Ethereum ETFs have surged 5x recently, indicating renewed institutional interest in the second-largest cryptocurrency.
- On June 11, a record 77,000 ETH was added to spot ETFs in a day, showcasing a spike in demand possibly driven by optimism around ETH's technical advancements and growing utility in staking and DeFi.
- The total of 154K ETH added weekly reflects a positive sentiment as Ethereum's price nears the $3,000 level.
- In contrast, Bitcoin spot ETFs saw 7,800 BTC in total inflows this week, showing stable but subdued bullish pressure compared to previous highs in May.
- BTC ETFs have shown volatility in institutional confidence with mixed signals of inflows followed by outflows, particularly around the beginning of June.
- The divergence in ETF flows between ETH and BTC could stem from rotational capital shifts, speculation on ETH ETF launches or upgrades, and Ethereum's broader utility recognition over Bitcoin's store-of-value narrative.
- Ethereum's strengthening ETF inflow momentum contrasts with Bitcoin's, potentially influencing mid-term price action and allocation strategies in the digital asset space.
Read Full Article
25 Likes
For uninterrupted reading, download the app