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Capital Inflow into Ethereum ETFs Surpasses $1 Billion for the First Time
On August 11, capital inflows into Ethereum ETFs issued by U.S. companies exceeded $1 billion for the first time in history.
According to data from SoSoValue, on Monday the capitalization of nine ETH-based derivatives increased by $1.02 billion, reaching $25.71 billion. In total, since the listing of the first Ethereum ETF, approved on July 23, 2024, $10.83 billion has been invested in the funds.
Ethereum ETF Statistics
Bitcoin ETFs saw much lower demand. On August 11, they managed to attract only $178.15 million. This clearly indicates that the altcoin season continues, during which traders shift their focus from BTC to ETH and other digital assets. As a result, a strong bullish trend has been observed in the markets for BNB (BNB), Dogecoin (DOGE), and Chainlink (LINK). At the same time, it is worth noting that Ethereum ETFs are still far from competing with Bitcoin ETFs in terms of capitalization, which currently stands at $154.42 billion.
Over the past month, Bitcoin has risen by 1.32%, while Ethereum has surged by 46.07%. In the medium term, ETH is likely to continue outpacing BTC in price growth due to a much larger volume of capital inflows from institutional investors. The fact that Bitcoin’s price has dropped below $120,000 suggests a decline toward $115,000. Meanwhile, Ethereum’s price, which has consolidated above the $4,200 mark, could rise to $4,500.
See also: "Record Inflow into Ethereum ETFs: BlackRock Leads"
