U.S. SEC Gives Green Light to Ethereum ETFs, Boosting Confidence and Surging Net Inflows to Record Highs
Breaking records and making waves in the world of cryptocurrency, Ethereum (ETH) investment products saw a staggering $36 million in inflows last week, marking a triumphant return since March.
This exciting news was revealed in a recent report by CoinShares on May 28. The surge in net inflows coincides with the U.S. Securities and Exchange Commission’s (SEC) approval of 19b-4 forms, paving the way for national exchanges to list spot ETH ETFs. It’s a green light that has set the crypto community abuzz with anticipation and possibility.
Excitement was in the air as Ethereum’s price soared by 30% in just one week, reaching a staggering market cap of $450 billion and inching closer to the elusive $4,000 per token mark. This sudden surge marked a significant shift in sentiment after a gloomy 10 weeks of bearish activity.
According to analysts at CoinShares, the approval news was the catalyst for this impressive jump, but the future of the uptrend is still uncertain as we eagerly await the launch of actual spot ETH ETF trading in the coming weeks.
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Ethereum inflows bounce with broader investment market
In the past three weeks, there has been a surge in investments in crypto-based funds, with a whopping $1.05 billion pouring in. And it seems like Ether is the star of the show, as investors can’t get enough of it. U.S. Bitcoin ETFs saw a massive influx of $1.03 billion, with BlackRock’s iShares ETF leading the pack with a staggering $719 million.
Revolutionary surge in investor interest has catapulted crypto investment channels to unprecedented heights, with a staggering $14.9 billion in cumulative year-to-date flows, setting a new record in the industry.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.