Ethereum ETF Inflows Surge

Ethereum exchange-traded funds (ETFs) experienced their best week since launching in July 2024, attracting $907.99 million in investor funds. This significant inflow coincided with a remarkable 17% rally in Ethereum's (ETH) price, pushing it past the $3,000 mark.

Ethereum ETF Historic Inflows

Data from SoSoValue shows that the largest daily inflow occurred on July 10th, reaching $383.10 million. July 9th and 11th also saw substantial inflows of $211.32 million and $204.82 million respectively. Market expert Nate Geraci highlighted this week's inflows as including three of the top ten inflow days ever recorded for these funds.

ETH Price Surge and BlackRock's Role

The surge in ETF investments mirrors a broader upward trend in ETH's price. According to CoinMarketCap, ETH's price increase, exceeding 17% in a week, culminated in reaching the crucial psychological price point of $3,000 on July 11th.

BlackRock's involvement is noteworthy. On July 10th, BlackRock allocated $156 million to ETH, surpassing its Bitcoin (BTC) investment of $125 million on the same day. This suggests a growing institutional preference for Ethereum, potentially driven by its diverse use cases including staking rewards.

BlackRock's Ethereum ETF (ETHA) reached a significant milestone on July 10th, exceeding 2 million ETH in holdings, valued at $300 million. Bloomberg analyst Eric Balchunas noted ETHA's strong performance, marking its first appearance among the top weekly inflow leaders.

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