The U.S. Ethereum spot exchange-traded fund (ETF) saw net inflows exceeding $3 billion in the first two weeks of August, marking the second strongest performance in history, with two weeks remaining until the end of the month.
According to ETF data tracking agency SoSoValue, the Ethereum (ETH) spot ETF recorded its strongest performance since launch this week, with inflows exceeding $2.9 billion. Since Monday, the ETF has averaged daily inflows of over $700 million, with the largest inflow occurring on Monday, exceeding $1 billion.
This ETF growth coincided with the strong performance of ETH in August. On Thursday, the ETH price reached a yearly high of $4765.83, before quickly dropping below $4500 and then rebounding. At the time of writing, ETH was trading above $4600, up nearly 20% for the week.
This capital inflow has brought the total net asset value of spot ETF products to a historic high of $29.22 billion, demonstrating investors' enthusiasm for accessing ETH through compliant investment mechanisms.
Ethereum Spot ETF has seen inflows for five consecutive months
According to SoSoValue data, the cumulative net inflow of the Ethereum spot ETF since its launch has reached $12.73 billion, with this asset class expected to see inflows for five consecutive months through September.
On Thursday, the net inflow of spot ETH ETF was $639.61 million. BlackRock's iShares Ethereum Trust (ETHA) led the way with a net inflow of $519.68 million, while Grayscale's Ethereum Trust (ETH) came in second with over $60 million.
Fidelity's Ethereum Fund (FETH) ranked third with a net inflow of nearly $57 million.
Fundstrat predicts ETH price will reach $15,000 by the end of the year
As ETH continues to rise, Fundstrat's Chief Information Officer Thomas Lee predicts that ETH will become the 'largest macro trade' over the next decade.
Sean Farrell, head of digital asset research, stated that ETH could rise to the range of $12,000 to $15,000 by the end of the year, calling the asset to have 'huge upside potential.'
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