Ethereum surpassed Bank of America (BoA) in market capitalization, as its valuation soared to $327 billion earlier today. This valuation growth was driven by inflows into spot Ether ETFs exceeding $100 million.
Ethereum became the 31st largest asset in the world
In the last 15 days, Ethereum added a whopping $100 billion to its market capitalization, quickly recovering from lows of $1800 to $2700. Along the way, the altcoin surpassed large giants like Nestle, Alibaba, Coca-Cola, and now BoA. The leading cryptocurrency Bitcoin also recently surpassed Amazon, becoming the fifth largest asset in the world.
The inflow of funds into the Spot Ether ETF ended the day at $110.54 million
Spot $ETH ETF maintained a net inflow this week, with demand peaking on Thursday. Farside Investors data shows that inflows into the spot Ether ETF surpassed $100 million for the first time in a month. The main sources of yesterday's inflow were the Grayscale Ether ETF with $43.7 million, followed by Fidelity FETH with $42.2 million, while the Grayscale mini-Ether ETF recorded an inflow of $18.7 million. The total inflow was recorded at $110.54 million across all issuers.
Spot ETH ETF exceeded $100 million
The total monthly inflow has grown by nearly 49% since the beginning of the year, indicating a sharp rise in demand for ETH ETF products. The trend looks very optimistic for holders and investors. As seen in the chart below, demand in May has already surpassed the previous best figure from January, with a few more days of active trading remaining.
But not everything is good for Ethereum ETF, as yesterday the U.S. SEC postponed the staking ETF application by 21shares. It is worth noting that investors can already trade Ethereum Futures ETF on CME.