Here’s a rewritten version of the article, preserving all verifiable facts and avoiding speculation:
Ethereum ETFs Drive Significant Inflows, Overtaking Bitcoin in Weekly Trading Volume
Mike Novogratz, thru his latest acquisition, has acquired 360,807 ETH. Novogratz highlighted that this trend is not solely driven by retail interest, noting a tangible increase in institutional participation, particularly following the approval of Ethereum ETFs.These ETFs have reportedly channeled substantial new capital into the cryptocurrency market.
On Thursday, spot Ethereum ETFs experienced inflows totaling $231 million, indicating robust institutional demand. The Fidelity Ethereum Fund (Feth) was a leading contributor, with inflows exceeding $200 million. The share price of Feth saw a 4.3% increase on the preceding day.
For comparative context, net ETH emissions on Thursday were approximately 2,524 ETH. In contrast, ETH ETFs recorded net inflows of around 63,700 ETH. This suggests that demand from ETFs was approximately 25 times greater than the new ETH supply.
ETH Surpasses BTC in Weekly Trading Volumes
On-chain data indicates that Ethereum (ETH) has now surpassed Bitcoin (BTC) in daily trading volume. For the first time in over a year, Ethereum’s weekly spot trading volume has exceeded that of Bitcoin. Last week, ETH recorded a spot volume of $25.7 billion, surpassing BTC’s $24.4 billion.
Moreover, Ethereum’s exchange reserves are approaching an all-time low. This trend is generally viewed as bullish, as it suggests investors are holding their ETH off exchanges, possibly signaling reduced selling pressure.
disclaimer:
This article is for informational purposes only and dose not constitute financial, investment, or any other form of advice. The author and individuals mentioned are not liable for any financial losses incurred from investments or trading.Independent research is recommended before making any financial decisions.
