Ethereum matches Bitcoin at the stock exchange with powerful ETF inflow

Bitcoin (BTC) reached a new all-time high of $ 112,000 last night. At the same time, Ethereum (ETH) is working on a catch -up race. With an increase of 6.4 percent in the last 24 hours, it performs considerably better than the big competitor. ETH is currently acting around $ 2,800.

Optimism is also clearly reflected in the US stock exchanges.

Ethereum ETFs are approaching Bitcoin

According to Data from Farside, no fewer than $ 211.3 million flowed to the ETH Spot Exchange-Traded Funds (ETFs) yesterday. That was only slightly less than the inflow of the Bitcoin ETFs, which came to $ 215.7 million.

It is a striking development. The inflow at the BTC funds were generally a lot higher in recent weeks, with incoming ranging from 200 to 600 million dollars in a single day. The current inflow into the Ethereum ETFs is exceptionally high and may seem to indicate a major shift.

Incidentally, the ETH funds have been noting net instreams for a long time. The digital currency exploded in May. Then it noted an increase from around $ 1,800 to $ 2,700 in just a week. Since then a long accumulation period has been followed. In this, the ETFs reached their longest continuous series of intake days, with no less than 20 trading days in a row.

The fund of asset manager BlackRock had by far the largest share in the increase. Yesterday it recorded an influx of $ 158.6 million. Fidelity followed with an influx of ‘only’ $ 29.5 million. In total, BlackRock now manages $ 4.77 billion in his fund. In second place, Grayscale is with his Ethereum Trust ETF, which manages $ 3.44 billion in assets.

Is the notorious ‘flipping’?

Also analyst etc. The high inflow stood out. He is a huge bullish and lets you know that the “first of many flipping” awaits us. He is referring to the moment that the ETH funds see more inflow than the BTC funds.

That would be a symbolic blow to BTC. The term ‘flipping’ is originally for the moment that Bitcoin loses his throne as the largest crypto coin. For the time being Bitcoin does not have to worry, but etc. So think that Ethereum can make that leap in the long term.

There are several catalysts who has Ethereum with it. There is the Genius Act. This is a bill that aims to stimulate innovation in the crypto industry and to offer clear regulations for Stablecoins.

The proposal was previously approved by the Senate. Next week it will be discussed in the House of Representatives for a final assessment. We also see that more and more companies are tacking and adding ETH to their reserves. For example, the sports bet company Sharplink now has $ 205,634 on Ethereum.