Ethereum Surpasses Bitcoin: ETF Attracts Record Capital of $3.4 Billion in 5 Days

Ethereum continues to lead the market as the ETFs of $ETH report inflows far exceeding Bitcoin for 5 consecutive sessions, indicating strong interest from institutions and businesses.

According to data from Farside Investors, in just the past 5 days, Ethereum ETFs attracted $3.37 billion, while Bitcoin ETFs only garnered $966 million. Specifically, on Thursday, inflows into ETH reached $640 million, led by #BlackRock⁩ ETHA ($520 million) and Fidelity FETH ($57 million).

Analysts believe the main reason is the wave of ETH accumulation by corporations, depleting the supply on exchanges and OTC. Ethereum is preferred over Bitcoin due to its smart contract capabilities, profitable staking, and diverse real-world applications, factors that $BTC lacks.

However, experts warn of the risk of a September correction based on historical cycles and the potential for profit-taking by individual investors. Nevertheless, if institutional trends continue, ETH could aim for the $10,000 mark in this cycle.

Kelvin Koh (Spartan Group) suggests this could be the beginning of a significant pivot from BTC to ETH, similar to the momentum that drove Bitcoin from $69,000 to $120,000. Currently, ETH is trading around $4,446, up nearly 13% for the week despite short-term volatility. #anhbacong