Spot Ethereum (ETH) exchange-traded funds (ETFs) have seen $4 billion of inflows in the past two weeks as a rally in the cryptocurrency strengthens.
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Spot Ethereum ETFs have now recorded 13 consecutive trading days of capital inflows, with the total amount during the period nearing $4 billion. The strong ETF inflows come as the price of Ethereum has risen 64% in the past month to reach $3,605, near its highest level of the year.
Investors are turning to Ethereum as the rally in cryptocurrencies broadens out after U.S. President Donald Trump signed sweeping crypto legislation into law. Ethereum is also benefiting as a yield-bearing crypto after the “GENIUS Act” signed into law by President Trump bans stablecoins from offering any yield, or interest.
Bull Run
Market data shows that Ethereum’s short-term demand is outperforming supply, suggesting that the current rally in ETH will continue in the near term. Ethereum is the second largest cryptocurrency by market capitalization after Bitcoin (BTC).
A growing number of options traders are betting that Ethereum’s price will surpass $4,000 by September of this year and $10,000 by year’s end. While ETH is currently surging, the rally in BTC has stalled at around $118,000.
Is ETH a Buy?
Most Wall Street firms don’t offer ratings or price targets on cryptocurrencies such as Ethereum, so we’ll look instead at its three-month performance. As one can see in the chart below, the price of ETH has risen 113% in the last 12 weeks.
