US-traded spot Ethereum (ETH) exchange-traded funds (ETFs) recorded a total net inflow of $729.1 million on Wednesday, marking the second-highest daily inflow since launch.
$729 Million Inflows into US Spot Ethereum ETFs, Second Highest Since Launch
According to SoSoValue data, BlackRock’s ETHA fund led the inflows, attracting $500.9 million in a single day. Fidelity’s FETH fund saw $154.7 million in inflows. Four other spot Ethereum ETFs also finished the day with positive net inflows.
This strong demand follows a record $1.02 billion set on Monday and $523.9 million inflows on Tuesday.
The price of Ethereum has risen 2% in the last 24 hours to $4,743, approaching its all-time high of $4,878 set in November 2021. Standard Chartered analysts raised their year-end ETH price forecast to $7,500 from $4,000, citing institutional buying, ETF demand, improving stablecoin regulations in the US, and strengthening technical indicators.
Meanwhile, spot Bitcoin ETFs saw net inflows of $86.9 million on Wednesday. Bitcoin hit a new record high of over $124,000 intraday and was trading at $121,704 at press time. The market capitalization of the world’s largest crypto asset has surpassed $2.45 trillion.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/ethereum-eth-exchange-traded-funds-etfs-record-second-highest-inflow-since-launch-heres-the-latest-data/