It's another day of great celebrations on Wall Street for Ethereum. Celebrations that took the form of substantial investments (over $400 million just in ETFs), which once again surpass those in Bitcoin. All this despite significant concerns for the markets, with a significant decline in $ETH in the last 24 hours, after reaching an all-time high.
This is yet another sign of a new cycle for Ethereum, which is enjoying a moment of great attention (and significant investments) right on Wall Street.
Ethereum is Wall Street's favorite
It has now been 2 months since Ethereum has posted incredible performances in terms of capital inflows. Performances so incredible that they beat the already excellent performance of ETFs on Bitcoin. This has happened consistently even on lean days. And also on days when there were outflows and not inflows, that is, when the appetite for this type of product has irreparably declined.
For yesterday, while Ethereum was losing the price levels reached on Sunday, there was another turn. Because indeed, in a day of declines, there were... very significant inflows.
For a total of $219.1 million in inflows, just under half of the inflows into Ethereum.
Also pay attention to the composition
We must also take into account the differences in terms of the composition of inflows. For Ethereum, capital is still coming in largely from BlackRock, which is the preferred channel for institutional investors.
We can't be certain for now, until mandatory communications arrive from funds and companies. What seems to emerge from these numbers, however, is an attention towards ETH that is primarily institutional in nature. And it is this push, which is currently lacking for Bitcoin, that gives us different results between the two vehicles.
A matter of great interest for investors, but which at the same time should be considered more than fleeting. Ethereum seems to have returned, after a long period of disinterest. The short-term movements have not (yet) altered this new market structure.
