Ethereum Spot ETFs Soar to Highest Daily Inflows in Nearly a Year
Ethereum's market capitalization surged by over $12.4 billion in just 24 hours, reaching $289.4 billion. The Ethereum spot Exchange-Traded Funds (ETFs) saw their highest daily cash inflow since October 28, 2023, with a total of $220.77 million on Thursday.
The largest spot ETH ETF backed by BlackRock Inc., iShares Ethereum Trust ETF (ETHA), recorded the highest daily net inflow of $173.3 million, increasing its Ethereum holdings to 3.08 million ETH valued at about $7.4 billion.
Notably, this significant influx of funds into spot ETH ETFs has triggered a renewed demand from whales and institutional investors, pushing the price of Ethereum up by over 28% in just seven days.