Ethereum ETFs Gain $231 Million, Maintaining a 15-Day Win streak in Inflows

On July 24, Ethereum spot ETFs saw a net inflow of $231 million, which was the third-highest inflow for the week and continued a 15-day run of gains. This came after 14 days of $332 million in inflows as of July 23.

While Bitcoin spot ETFs experienced $89 million in outflows on July 24, they still recorded a net inflow of $227 million. They attribute the rise in institutional trust in Ethereum to increased transaction volumes, and on-chain ETF inflows have surpassed Bitcoin inflows, indicating a shift in institutional capital allocation. Analysts’ activity is contributing to the rise in institutional trust in Ethereum.

Due in large part to BlackRock’s product, Ethereum ETFs saw an inflow of $333.87 million on July 24, setting new all-time highs. While Bitcoin’s annual inflows peaked in mid-July, Ethereum ETF inflows have topped $4 billion since late June.

Trader Michaël van de Poppe claims that Ethereum’s price has surpassed Bitcoin’s by 70% since the April lows, but this is more of a price prediction than a verified movement. This change is a reflection of more general market conditions, like Ethereum’s involvement in DeFi and impending changes that might cause money to move away from Bitcoin.

 

 

 

 

 

 

 

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