Ether ETF funds are attracting strong interest in the U.S., with investment inflows more than 10 times higher than Bitcoin ETF funds in the last five trading days.
As of August 21, Ether ETF funds have recorded a total of $1.83 billion in inflows, while Bitcoin funds only reached $171 million, which is equivalent to 1/10 of this amount, according to data from CoinGlass.
The most recent trading day on Wednesday continued this trend, as nine Ether funds attracted $310.3 million in inflows, while 11 Bitcoin funds only brought in $81.1 million.
This week, Ether has rebounded faster than Bitcoin, with the price of ETH rising 5% from the low on Tuesday, while Bitcoin only increased by 2.8% in the same timeframe.
The strong shift towards Ether has not gone unnoticed by industry experts, including educator and Ethereum investor Anthony Sassano, who described the situation as 'brutal.'
At the same time, Nate Geraci, President of NovaDius Wealth Management, noted that Ether ETF funds have now nearly reached $10 billion in inflows since the beginning of July.
Ether ETF funds have been operational for 13 months and have attracted a total of $13.6 billion in inflows, most of which came from recent months.
In contrast, Bitcoin ETF funds have been around longer, operating for 20 months with a total inflow of $54 billion.
Wall Street token
The momentum seems to have shifted towards Ethereum after the passage of the GENIUS Act on stablecoins in July, as this network holds the largest market share in stablecoins and tokenized real assets.
"This is really what I call a Wall Street token," said VanEck CEO Jan van Eck on Fox Business this week.
Additionally, Bloomberg's ETF analyst, James Seyffart, reported that investment advisors are the largest holders of Ether funds with a total value of $1.3 billion.
According to SEC filings, Goldman Sachs is the largest holding organization with $712 million.