The spot Ethereum ETF market has experienced significant growth following recent events such as Donald Trump's election victory and the Federal Reserve's decision to cut interest rates. Over the past three days, Ethereum ETFs have seen consistent net inflows, reversing previous outflows and indicating rising investor confidence. Ethereum has also garnered renewed interest alongside Bitcoin's surge above $77,000, with spot Ethereum ETF inflows reaching a peak of $85.9 million. BlackRock's Ethereum ETF led with $59.8 million in inflows, followed by Fidelity's ETF with $18.4 million. The total inflows into BlackRock's Ether ETF have now reached $1.4 billion. Despite lagging behind Bitcoin ETF inflows, Ethereum's inflows represent a healthy trend. Ethereum has demonstrated market resilience, outperforming Bitcoin with an 18% increase over the past week. The Ethereum price rally has pushed it past $3,000, and if it maintains its position, the next target could be $4,000. The SEC's decision to delay options trading for spot Ethereum ETFs has not deterred the growing interest in Ethereum-backed funds. Overall, the accumulation phase and positive investor sentiment suggest that Ethereum may continue to capture significant attention in the market.
- Content Editor ( cryptonewsland.com )
- 2024-11-10
Ethereum ETF Demand on the Rise: Will ETH Hit $4,000 Soon?