Ether ETFs Witness Record Inflows Amid Price Surge

US spot Ether exchange-traded funds (ETFs) experienced their second-largest daily inflows on record, attracting $729 million on Wednesday.

This surge in investment coincided with Ether (ETH) approaching its all-time high, trading above $4,700 for the first time since November 2021.

The significant inflows highlight growing investor confidence and interest in the cryptocurrency market.

Key Takeaways

• US spot Ether ETFs saw $729 million in inflows on Wednesday, the second-highest daily inflow on record.
• Ether (ETH) price surpassed $4,700, nearing its all-time high.
• BlackRock's iShares Ethereum ETF (ETHA) led inflows with over $500 million, followed by Fidelity Ethereum Fund (FETH) with $155 million.
• Total inflows over the past three days reached approximately $2.3 billion.
• Spot Ether ETFs have recorded seven consecutive days of inflows, totaling $3.07 billion during this streak.

Strong Performance and Investor Sentiment

The $729 million inflow on Wednesday follows a record $1.02 billion inflow on Monday, indicating a strong trend of accumulating capital into Ether ETFs.

This recent influx is only slightly higher than the previous record of $727 million set on July 16, when ETH was trading around $3,150.

Over the last three days, spot Ether ETFs have attracted about $2.3 billion, a notable increase from the $2.12 billion recorded in the prior week.

Leading Funds and Market Activity

BlackRock's iShares Ethereum ETF (ETHA) was the primary driver of Wednesday's inflows, attracting more than $500 million.

Fidelity Ethereum Fund (FETH) followed, securing $155 million.

This sustained interest has led to seven consecutive days of inflows for spot Ether ETFs, accumulating a total of $3.07 billion during this period.

Total net inflows in Ether funds reached a record $12.1 billion on Wednesday, with trading volumes also hitting a new high of $4.5 billion.

Future Outlook

Market observers suggest that the "Ethereum FOMO is just getting started", anticipating continued record-setting performance as the ETH rally persists.

The cryptocurrency has seen a nearly 29% increase in price over the past seven days.

As of publication, Ether was trading at $4,744, just 3% shy of its all-time high of $4,878, set on November 21, 2021.

This upward momentum is fueling optimism for further growth in Ether ETF investments.

Sources:

• US spot Ether ETFs see 2nd-biggest inflows on record as ETH nears new high
• Ethereum News: US Spot Ether ETFs See $729M Inflows as ETH Price Nears All-Time High
• Ethereum ETF inflows jump $729m, surpass Bitcoin ETFs

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