Why Ethereum should not be ignored amidst massive institutional capital inflows
Ethereum has amassed $425 million in capital from SharpLink Gaming’s treasury allocation. The largest altcoin has attracted large volumes of institutional capital inflows to ETFs in the past week. Whales and institutions have attempted to reinstate confidence among traders, however the process has proven painfully slow.
We dive deeper and find out why traders are not buying Ethereum’s Ethereum
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Ethereum new narrative and what it will take for ETH to break out of the consolidation and hit a new all-time high this cycle.
Ethereum ETF flows and whale accumulation
Ethereum Spot ETFs have attracted consistently large inflows from institutional investors in the last four weeks. Data from crypto intelligence tracker SoSoValue shows that the daily total netflow to Ethereum ETFs exceeds $11 million.
Ethereum ETFs recorded a large spike on June 11 with a daily net inflow that exceeds $240 million. This week the inflows have been relatively below average, expected to pick up in the latter half, amidst recent bullish developments.
Data from crypto intelligence tracker Glassnode shows that the daily whale accumulation has exceeded 800,000 Ether. The Ethereum holdings of whales that own 1,000 to 10,000 Ether have exceeded 14.3 million Ether, as of June 16. June 12 alone recorded the highest daily net inflow, where large wallet investors added over 871,000 Ether.
Crypto analysts at Cryptorank observed that the scale of whale accumulation seen in this cycle is unusual and has not been seen since the beginning of the bull run in 2017. Starting H2 2024, whales have been accumulating ETH, with the trend rising sharply in the last four weeks, supporting a bullish thesis for Ether.
