Ethereum exchange-traded funds (ETFs) continue their streak of inflows, marking their fourth day in a row on Wednesday. The enthusiasm of large investors for these investment instruments is growing and this is reflected in the huge amounts of inflows.
Likewise, the good performance of these funds led to the currency they represent, ETH, also going on a roll. In that sense, the second most important cryptocurrency in market capitalization is advancing in a strong rally. During the last week, the token has a performance of +14%, according to CoinMarketCap .
The latter allows the coin to remain above $3,600 per token and investors are awaiting $4K in the short term. This growing optimism is also reflected in the volumes in open interest, where millions of dollars are positioned in anticipation of the rise.
Thus, for both direct investors and investors in Ethereum ETFs, the good news continues. The ETH price is expected to experience a possible rally in the short term, but it will surely not pose a threat to the bullish trend. In the case of ETFs, it can be assumed that the positive numbers will continue at least for the rest of the week.
Ethereum ETFs emerge from initial slumber
Following the huge success of Bitcoin ETFs, it was expected that similar ETH products would perform accordingly. However, investors on the exchange were timid in their reaction to the approval of these products from the second largest cryptocurrency in the crypto market. Thus, since their launch on the exchange, red numbers dominated the scene.
For several months, the flows into these funds were disappointing, as was the price of ETH. However, analysts reaffirmed that these investment instruments had their own particular dynamics. Hence, it was a mistake to compare them with Bitcoin products to determine whether they were successful or not.
And this seems to be the case. Over the past few days, the growing interest in the cryptocurrency market has stimulated demand for the shares of these ETFs. In these four days of the streak, from Friday, November 22 to this Wednesday, a total of $224.9 million flowed into these funds.
The largest recipient of capital from Wall Street was BlackRock's ETHA, which accumulated a total of $149.8 million. It is worth noting that in these four days of the Ethereum ETF streak, the Bitcoin ETFs showed mixed numbers.
As already mentioned, positive flows are likely to continue in the remaining days of this week. However, this will all depend on changing market conditions.