Ethereum Spot-ETFs received 240.3 million dollars in net inflow on Wednesday, the seventh highest day since the funds were launched. With that, Ethereum again performed better than the Bitcoin ETFs, which attracted 164.5 million dollars on the same day.
Spot Ethereum ETFs dominate inflow
The vast majority of the inflow ended up at BlackRock’s Etha Fund, which won $ 163.6 million. Fidelity’s FBTC (37.3 million dollars), Grayscale’s Ethe and Mini Ethereum Trust and Bitwise’s BITW also recorded positive inflow.
According to Data from Farside, this was the eighteenth day in a row with net inflow for Ethereum funds. In recent weeks, the ETH ETFs have performed more often than their Bitcoin counterparts, which indicates a shift in investor sentiment.
According to Nick Ruck, research director at LVRG, many investors see Ethereum as undervalued. “Now that Bitcoin is approaching record highs and many Altcoins are left behind, investors expect Ethereum to rise considerably.”
Ethereum rate rises by ETF optimism and DeFi hype
The growing interest in Ethereum stems from both market developments and institutional signals. In particular, the rapid growth of stablecoins and the advance of institutional Defi projects reinforce confidence in Ethereum as a foundation for a future-proof financial infrastructure.
That optimism is also reflected in the derivatives market: according to Coinglass, 106 billion dollars were traded on ETH derivatives on Wednesday, compared to $ 80.5 billion for Bitcoin.
The Ether Koers peaked that day at $ 2,856, the highest level since February. In the meantime, the race has fallen slightly to $ 2,765, a decrease of 0.4 percent in the last 24 hours.
Another factor that contributes to the positive sentiment is the pectra upgrade, which was implemented earlier this year. This improvement in scalability and cost efficiency makes the Ethereum network more attractive for institutional applications.
ETH continues to benefit from ‘Spillover’ from Bitcoin
According to Augustine fan of SignalPlus, part of the interest in Ethereum stems from a so-called Spillover effect. “Many investors have already focused heavily on Bitcoin and are now focusing on alternatives,” he says. “Ethereum and Defi are logical next steps.”
Nick Ruck from LVRG also sees how trust in Ethereum is growing. According to him, more and more institutions consciously opt for the Ethereum ecosystem to develop new financial products. According to him, that combination of regulatory progress, institutional involvement and market dynamics makes ETH attractive for investors with a long horizon.
Source: https://newsbit.nl/ethereum-etfs-halen-240-miljoen-op-meer-dan-bitcoin-fondsen/
