US spot Ether ETFs see 2nd-biggest inflows on record as ETH nears new high

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US spot Ether exchange-traded funds (ETFs) printed the second-largest regular inflows connected grounds arsenic the cryptocurrency approached all-time precocious prices.

Ether (ETH) funds saw $729 cardinal of inflows connected Wednesday arsenic ETH surged past $4,700 for the archetypal clip since November 2021, according to information from SoSoValue.

It was the second-largest regular inflow into spot Ether ETFs, pursuing the record $1.02 cardinal poured into ETH funds connected Monday.

The latest inflows are lone 0.5% supra the previous grounds of $727 million acceptable connected July 16, erstwhile the crypto plus was trading astatine astir $3,150, according to CoinGecko data.

$2.3 cardinal of inflows successful 3 days

Wednesday’s inflows came chiefly from BlackRock’s spot Ether ETF, iShares Ethereum ETF (ETHA), which attracted much than $500 million, according to SoSoValue. Fidelity Ethereum Fund (FETH) ranked second, totaling $155 million.

With the latest gains, spot Ether ETFs person attracted astir $2.3 cardinal successful inflows implicit the past 3 days, up 8.5% from the previous play grounds of $2.12 billion acceptable betwixt July 14 and July 18.

The caller inflows are besides a crisp summation implicit the $270 cardinal seen successful spot Ether ETFs successful the past trading week.

Spot Ether ETFs person recorded 7 consecutive days of inflows, bringing the full inflows during this streak to $3.07 billion.

According to SoSoValue, full nett inflows successful Ether funds reached a grounds $12.1 cardinal connected Wednesday, portion full trading volumes besides broke a grounds precocious of $4.5 billion.

“Ethereum FOMO is conscionable getting started”

With Ether ETFs consistently hitting caller highs amid the ongoing ETH rally, galore expect it to proceed mounting caller records.

Addressing the $729 cardinal inflow successful spot Ether ETFs, crypto marketplace perceiver Ted Pillows suggested that the “Ethereum FOMO is conscionable getting started” successful an X station connected Thursday.

The ongoing ETH rally has been a large contributor to the rising inflows, arsenic the crypto plus has surged astir 29% implicit the past 7 days.

“The higher the price, the bigger the inflows,” crypto expert ZeroHedge wrote successful an X station connected Thursday.

As of publication, Ether traded astatine $4,744, oregon astir 3% distant from the all-time precocious of $4,878 recorded connected Nov. 21, 2021, according to historical prices information from CoinGecko.