Ethereum ETFs Hit $729M Surge in Second-Biggest Day Ever

Ethereum ETFs Post $729M Inflow, Challenging Bitcoin ETF Dominance

Ethereum ETFs Post 2nd-Highest $729M Surge

According to the data of SoSo value, after the Ethereum ETFs reached its all time high daily total net inflow of $1.02B, now again Ethereum ETFs had made its 2nd highest surge of $729M by surpassing the previous record of $726.74M on July, 16. These shocking ETH moves are making waves in the world of cryptocurrency. 

Source: SoSo Value 

The daily total Net inflow of Ethereum ETFs is $729.19, second highest with a total asset value of $29.72B whereas the weekly overall surge of the ETH ETFs is $2.27B. As per the updated data of SoSo Value, on August 12 the daily net influx was $523.92M that suggests the influx has been raised by $195.27 million in a single day. 

The Cumulative sum influx is $11.36B with sun value traded at $3.19 billion and the overall asset value is $27.60 billion which is 4.77% of the ETH market cap. 

As of August 13, BlackRock (ETHA) has shown a overall influx of $500.85 and a cumulative inflow of $11.31B. Fidelity(FETH) is following it with total influx of $154.69 and cumulative value of $2.95B. Whereas Grayscale is also leading with its sum value of $51.34 million. 

Ethereum ETFs Surge on Heavy Spot 

At the time of writing the coin is trading at $4,740.82 and is up by 2.35% in 24 hours, as per the data of CoinMarketCap. It might be due to asset prices climbing as ETF grows, staking increases and network upgrades boost investors confidence. Apart from this the overall crypto market mood is staying highly positive for ETH. 

Source: CMC

ETH prices are rising fast and setting new records that attract heavy buying from investors. 

The outlook is positive, while the negative market sentiment and Global macro factors could bring small setbacks. But ETH currently holds a strong lead in the market. 

Ethereum Surge: How Bitcoin Is Reacting

As per the data of CoinMarketCap, the Bitcoin today’s price surge has boosted confidence and gave goosebumps to many as the price went to its all time high of $124,210.62 today, and currently trading at $121,725.35 and is up today by 1.47%. (at the time of writing)

Although Bitcoin ETFs influx was running low from last week ( weekly total net inflow of $246.75 million), this surge in price has amazed the crypto world and this week the total weekly influx is $331.02M. 

Source: SoSo Value

The daily net inflow of Bitcoin is $486.91 million with a total net asset value of $158.64 Billion which is 6.48% of Bitcoin market cap and the cumulative net inflow is $54.76B. 

Now, it became interesting for the investors and the crypto watchers to observe who wins and who leads the race? 

Conclusion 

Ethereum inflow are gaining momentum with record inflows, strong investor interest, and steady growth and putting them closer than ever to challenging Bitcoin’s lead.