The Spot Funds on Ether Exchange (ETF) continued their bullish momentum on Tuesday, recording a net input of $ 533.87 million and extending their sequence at 13 days of consecutive negotiations, according to Sosovalue data.
The Ishares Ethereum Trust of Blackrock (ETHA) led the sharp increase with $ 426.22 million in daily entrance. The fund now contains more than $ 10 billion in assets, commanding the largest share of the ether (ETH). Fidelity Feth followed with $ 35 million in entries.
“The entries of FNB of the Spot ether were motivated by the decline in the domination of the BTC and the institutional appetite increasing for exposure to ETH. While liquidity is deepened and the macro-waondes maintain it, this trend of demand should last,” said Vincent Liu, director of investments at Kronos Research, in Cointelegraph.
The net influx cumulative in all ether ETHERs has now exceeded $ 8.32 billion, compared to $ 4.25 billion at the start of the sequence on July 2. The total net assets locked in these products reached 19.85 billion dollars, which represents 4.44% of the stock market cap of Ethereum.
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The Ether Spot ETF draw $ 4 billion in a 13 -day entry sequence
Total net entries during the 13 -day sequence from July 3 to 22 amounted to more than $ 4 billion. The sequence also includes record activities on July 16, when ETF Ethereums recorded a daily influx of $ 726.74 million, the most important since their inception. July 17 followed with $ 602.02 million, the second to date.
“ETP investors remain considerably sub-pondered Ethereum vs Bitcoin: although ETH’s market capitalization is about 19% of the size of the BTC, Ethereum ETPS has raised less than 12% of Bitcoin ETPS assets,” wrote Matt Hougan, director of investments in Bitwise, wrote in a Tuesday post on X.
He said that the trend of companies holding ETH on their balance sheets is likely to accelerate. He estimated that between the products negotiated on the stock market (ETP) and these companies, demand could reach $ 20 billion in ETH over the next year, or around 5.33 million ETH at current prices.
In comparison, the Ethereum network should issue only 0.8 million ETH during this period, which suggests that demand could exceed the supply of almost seven times.
“In the short term, the price of everything is set by supply and demand. And for the moment, there is much more ETH request than there are new supplies. I suspect that we are going above,” he said.
In an article on Wednesday on X, Lookonchain revealed that five fresh portfolios had removed a combination of 76,987 ETH ($ 285 million) from Kraken today, suggesting a trend of accumulation and narrowing of the exchange offer.
In relation: Solana SSK ETF breaks $ 100 million while Wall Street warms up for cryptography
Spot Bitcoin Etf publishes $ 67 million in outings
Meanwhile, the Bitcoin Spot ETF (BTC) posted a net output of $ 67.93 million on Tuesday. The most important withdrawals came from BitB and Arkb of Ark de Bitwise, which experienced daily net outings of $ 42.27 million and $ 33.18 million, respectively. Graycale GBTC was the only product in the green, recording a modest influx of $ 7.51 million.
The withdrawal follows an institutional wave of purchase earlier in July, including off -competition entries of $ 1.18 billion on July 10 and $ 1.03 billion on July 11.
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