CandleFocus

Ethereum Hits 3-Year High as ETFs See Record $752 Million Weekly Inflows

Ethereum (ETH) reached its highest price in nearly three years, hitting $4,089, thanks to increasing institutional interest. US Ethereum ETFs saw a record single-day net inflow of $428.4 million, led by BlackRock's ETHA fund and Fidelity's FETH. This surge of investment also contributed to the largest weekly net inflow for Ethereum ETFs since their launch in July. The total weekly inflow for December stands at $752.9 million, a record gain for the funds. The State of Michigan Retirement System became the first US state pension fund to invest in an Ethereum ETF, holding shares of Grayscale Ethereum and ARK Bitcoin ETF. Other altcoins, such as Solana and XRP, are also entering the ETF market as US regulations become more crypto-friendly.

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