Ethereum ETFs See Massive Inflows Amid Gas Pricing Overhaul
Ethereum's spot price CFDs saw significant inflows in recent weeks, as investors continue to buy into the cryptocurrency.
According to TradingView, US-based Ethereum ETFs recorded net inflows of approximately $689.9 million for the week ending September 25th, with an additional $1.74 million flowing in on the next Monday. This surge in demand was topped off by Friday's net inflows of $87 million, led by ETHA adding $50 million.
The shift towards Ethereum may be due to changes in protocol-level gas pricing. As reported by Cointelegraph, the new pricing model will better reflect data creation and access costs. However, contracts using fixed gas stipends or hardcoded limits may require developer review and updates.
BitMine's recent purchasing spree is also contributing to Ethereum's rising popularity. The company acquired 17,362 ETH last week, bringing its total spot holdings to 6 million tokens as part of its strategy to hold Ethereum as a core asset.