Ethereum ETF mania: ETH targets $4,000—will key record break?💹💹
Ethereum’s price jumped for six consecutive days, reaching its highest point since January 7. It has jumped by over 158% from its lowest point in May this year.
Ethereum jumped to around crossed $3,700, making it one of the best-performing coins this week.
So Value data shows that the surge coincided with the robust spot Ethereum ETF inflows during the week. These funds added a record $2.1 billion in assets, the biggest weekly gains on record.
The inflow was much higher than the previous week’s $907 million. It was also the tenth consecutive week of positive Ethereum ETF inflows, marking the longest streak since the ETFs were approved in September last year. Most notably, their cumulative inflows jumped to over $7.49 billion.
BlackRock’s ETHA ETF is beating its rivals, with its assets jumping to $9.17 billion. It accounts for almost half of the assets in Ethereum ETFs.