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Spot Ethereum ETFs: A Remarkable Turnaround
In the realm of US-based spot Ethereum exchange-traded funds (ETFs), the initial pace was sluggish in comparison to Bitcoin ETFs. However, recent months have witnessed a substantial shift in their performance trajectory. This positive momentum is mirrored in the value of Ethereum (ETH), which recently soared to an unprecedented high of $4,887. Remarkably, the latest statistics illustrate that ETH ETFs are currently outperforming their Bitcoin counterparts.
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Inflow Surge: Spot Ether ETFs Garner $8.2 Billion Since July
Nate Geraci, the President of NovaDius Wealth Management, recently shared insights on the X platform, highlighting the growing investor interest in spot Ethereum ETFs over Bitcoin ETFs. Over the past couple of months, these ETH-centric investment products have been setting impressive benchmarks.
According to Geraci’s findings, Bitcoin ETFs in the US have seen net outflows exceeding $1.2 billion in August alone. Conversely, Ethereum ETFs have welcomed net inflows surpassing $2.8 billion during the same timeframe. Since July, Ethereum ETFs have amassed nearly double the capital of Bitcoin ETFs, accumulating more than $8.2 billion, compared to the $4.8 billion garnered by Bitcoin ETFs.
Further data from SoSoValue reveals a daily net inflow of $337.63 million for spot Ethereum ETFs on a recent Friday, marking a significant rebound after a challenging week where nearly $1 billion was withdrawn. Despite last week’s net outflow of approximately $579 million—the worst performance since its inception—the spot Ethereum ETFs had previously enjoyed their best week with inflows of $2.85 billion.
Ethereum Market Trends
The buoyant sentiment surrounding Ethereum ETFs is clearly reflected in the current ETH price. Presently, Ethereum is valued at approximately $4,750, representing a marginal 0.3% dip over the past day. According to CoinGecko, Ethereum, the second-largest cryptocurrency by market cap, has experienced an impressive 8% growth over the past week.
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