Ethereum ETF Money Don Reach $300M, Push ETH Above $3K
Ethereum ETF money wey dem dey put this week reach $703 million combined, na di third biggest since U.S. spot products start for July 2024. BlackRock’s iShares Ethereum Trust (ETHA) lead with record $300 million net inflow for one day, making their assets under management reach $5.6 billion.
Report from Fineqia talk say assets wey dem dey manage for ether-backed exchange-traded products rise 61% faster than ETH market cap for Q2. The big increase in spot ETF net inflows make ether price jump back above $3,000, highest in four months.
Ethereum ETF inflows don pass ETH price increases since April end, showing say institutions still dey interested for regulated digital assets. Traders fit take these flows as good sign. Tight supply and rising AUM fit boost short-term price movement plus support long-term adoption.
Bullish
Di strong strong institutional demand wey Ethereum ETF get because dem dey carry record and steady ETF inflows. Dis surge fit make ETH available supply reduce, wey go support short-term price increase. For long run, as asset dem dey increase inside management and net inflows still dey steady, e fit make dem launch more products and more people go begin use regulated Ethereum instruments. Historical trend show say ETF inflows dey usually balance with bullish price movements.