💸 Ethereum broke through the $3400 mark amid record inflows into ETFs



The value of the second most capitalized cryptocurrency rose 8.9% overnight to $3452, its highest since mid-January, according to CoinGecko.

The rise in the cryptocurrency's value was fueled by record inflows into spot Ethereum-ETFs. On July 16, net inflows into nine exchange-traded funds totaled $726.74 million, led by BlackRock's ETHA with $499 million.

Since the beginning of July, spot $ETH ETF have raised $2.27 billion, setting a one-month record since launch.

Ethereum is increasingly seen as a long-term institutional asset rather than a speculative instrument. Funds already own 4% of the altcoin's total capitalization, indicating a rapid inflow of capital from major players.
ETH4.69%
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)