On Monday, Ethereum exchange-traded funds (ETHA) saw net inflows of approximately $178 million, surpassing Bitcoin exchange-traded funds.
The iShares Ethereum Trust (ETHA) from BlackRock saw record inflows of $640 million, making it the most pumped Ether fund.
With total inflows of $1.01 billion, U.S. Ethereum exchange-traded funds experienced their best daily net inflows ever on Monday. This news came after the price of Ether rose by 47% over the past thirty days, alongside several important indicators showing positively. At the time of writing this report, Ethereum is trading at $4506, up by 5.83% over the past 24 hours, according to CMC data.
On Monday, net inflows to Ethereum exchange-traded funds reached approximately $178 million, far exceeding inflows to Bitcoin exchange-traded funds, according to Farside Investors. The iShares Ethereum Trust ETF (ETHA) from BlackRock saw a record $640 million, making it the most flowed Ether fund.
The Fidelity Ethereum Fund (FETH) ranked second, which also achieved the largest daily inflow among cryptocurrency funds, valued at $277 million. Due to confusion among institutional investors regarding Ethereum, analysts stated that exchange-traded funds in Ethereum were initially undervalued.
Resonates with institutional investors
Moreover, according to analysts, Ethereum is now receiving significant attention from institutional investors, given its reputation as the foundation for future financial markets. According to CoinGecko, the price of Ethereum has risen by 47% over the past thirty days. Now, with increasing positive indicators, record inflows are being recorded.
According to Glassnode statistics, the amount of Ethereum held on exchanges fell to a nine-year low on Thursday, dropping to 15.28 million Ethereum, the lowest level since November 2016.
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Typically, investors withdrawing their assets from trading platforms is seen as a positive indicator. This may suggest that they plan to hold their assets long-term. The data platform Token Terminal noted in a post on Monday X that Ethereum's share of 58% of tokenized assets made it the undisputed leader. Additionally, the company announced that the listed assets of the Ethereum network have now surpassed the $150 billion mark for the first time.$BTC