Week-long surge in Ethereum ETF investments, cumulating in $634 million inflow.
In the last eleven days, U.S. Ethereum ETFs have pulled in a whopping $634 million in net inflows, as these digital investments gain momentum. This surge in interest aligns with the rampant bullish sentiment swirling around Ethereum itself, which has skyrocketed a staggering 43% over the last 30 days.
According to S&P Global Market Intelligence data, the net inflow streak for U.S. Ethereum ETFs began on May 16, and on June 2, these ETFs recorded a $78.17 million inflow during the latest trading session. This has spiked the total net assets of Ethereum ETFs to an impressive $9.37 billion.
Meanwhile, spot Bitcoin ETFs have been witnessing dwindling inflows, losing a staggering $1.242 billion over the past three trading sessions. As Ethereum and other emerging cryptocurrencies like Solana grab the spotlight, Bitcoin is gradually losing ground.
The surge in Ethereum ETFs comes at a time when the digital asset is generating quite a buzz. With institutional interest increasing, SharpLink, a renowned gaming marketing firm, recently announced plans to lay down $1 billion for Ethereum. This announcement, along with escalating institutional focus on Ethereum, has pumped up the asset, fueling its ongoing bullish streak.
At the time of this writing, Ethereum (ETH) is trading at an impressive $2,618, up a bold 5.50% in the last 24 hours. Its daily trading volume, which has been on a steady rise since May, currently stands at a substantial $21.17 billion – a leap of 52% in the past 24 hours.
Also check out the piece titled "Ethereum Price Aims for $3000, Meme Coins PEPE & WIF Boost Market Recovery".
- Despite bitcoin's dwindling inflows, meme coins like Solana, along with Ethereum, are gaining prominence in the finance sector, capturing the attention of investors.
- The surge in interest in Ethereum ETFs has resulted in a net inflow of $634 million in the last eleven days, pushing the total net assets of Ethereum ETFs to an impressive $9.37 billion.
- As institutional interest increases, traditional finance is starting to embrace technology, with SharpLink planning to invest $1 billion in Ethereum.
- The ongoing bullish sentiment for Ethereum has fueled its price, with Ethereum trading at $2,618, up 5.50% in the last 24 hours, and its daily trading volume reaching a substantial $21.17 billion.
