The U.S. spot Ethereum exchange-traded fund (ETF) has recorded the second-highest single-day inflow in history, second only to Monday's record of $1.02 billion, as the price of the cryptocurrency approaches its all-time high.
According to SoSoValue data, on Wednesday, the Ethereum (ETH) fund saw an inflow of $729 million. On that day, the ETH price broke through $4,700 for the first time since November 2021.
This marks the second-largest single-day inflow in the history of spot Ethereum ETFs, following Monday's record of $1.02 billion.
According to CoinGecko data, this latest inflow is only 0.5% higher than the previous record of $727 million set on July 16, when the cryptocurrency was trading at around $3,150.
SoSoValue data shows that the inflow on Wednesday was primarily driven by BlackRock's iShares Ethereum ETF (ETHA), which attracted over $500 million, while the Fidelity Ethereum Fund (FETH) came in second with $155 million.
With the recent rapid inflows, the spot Ethereum ETF has attracted approximately $2.3 billion in total over the past three days, an increase of 8.5% compared to the previous weekly record of $2.12 billion set from July 14 to July 18.
The new inflow also significantly exceeds the $270 million seen in the previous trading week for the spot Ethereum ETF.
The spot Ethereum ETF has recorded inflows for seven consecutive days, bringing the total inflow during this period to $3.07 billion.
According to SoSoValue data, the total net inflow for the Ethereum fund reached a record $12.1 billion on Wednesday, while the total trading volume also hit a historic high of $4.5 billion.
As the Ethereum ETF continues to set new highs amid the ongoing rise in ETH, many expect it to keep breaking records.
In a post on X on Thursday, crypto market observer Ted Pillows commented on the $729 million inflow for the spot Ethereum ETF, stating, "The Ethereum FOMO has just begun."
The ongoing rise in ETH is the main driver of the increased inflows, as the cryptocurrency has risen nearly 29% over the past seven days.
"The higher the price, the greater the inflow," crypto analyst ZeroHedge wrote in a post on X on Thursday.
According to historical price data from CoinGecko, as of the time of writing, the latest quote for ETH is $4,744, just about 3% away from its all-time high of $4,878 set on November 21, 2021.
Related: Fundstrat: Ethereum (ETH) will be the "best macro trading asset" for the next 10-15 years.
Original article: “U.S. Spot Ethereum ETF Sees Second Highest Inflows in History, ETH Price Approaches New High”
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