According to U.Today, positive signals have emerged for Ethereum (ETH), suggesting a potential future rally. Ethereum-based spot ETFs have started to gain investor interest this week. These ETFs witnessed daily inflows of $24.34 million on Aug. 13, marking the second consecutive day of inflows, following $4.93 million the previous day. The total net assets of the ETH ETFs now stand at $7.65 billion, which constitutes 2.36% of the total Ethereum market capitalization.
BlackRock’s Ethereum ETF led the market with $49.12 million in inflows, accumulating net inflows of $950.38 million. Fidelity’s Ethereum ETF followed with inflows of $5.41 million on the same day and cumulative net inflows of $351.1 million. Meanwhile, Grayscale’s ETHE continued its trend of outflows, with a daily outflow of $31.01 million and cumulative net outflows of $2.38 billion. Crypto analysts appreciate these consistent inflows into Ethereum spot ETFs.
While they have not witnessed significant inflows since their launch, the market expects a gradual surge in trading for these products. Macroeconomic conditions have halted investor confidence in such assets, but as the broader financial situation improves, ETH ETFs could perform better. Some analysts view the current state of inflows as a positive indicator, expecting that rising interest in these ETFs could inject bullish momentum into the ETH price. Michaël van de Poppe, a renowned crypto trader and analyst, explained that Ethereum ETFs have started to perform consistently with stable inflows. He predicted that this performance could continue in the upcoming period, coinciding with a gradual rise in the price of Ethereum.
