#ETH Breaks $4700 Ethereum's Rise is Also Supported by Exchange-Traded Funds (ETF) Sideways! Heavy Inflows Continue!

Ethereum exchange-traded funds (ETF) recorded a net inflow of $523.9 million on Tuesday, following a record-breaking day.
Spot Ethereum exchange-traded funds traded in the US (ETF) recorded a net inflow of $523.9 million on Tuesday after a record-breaking day.

New Inflow of 524 Million Dollars to Spot Ethereum ETFs, Six-Day Positive Series Continues
According to SoSoValue data, six of the nine Ether ETFs closed the day positively. The largest inflow was made by BlackRock's ETHA fund, which raised $318.67 million. Fidelity's FETH fund saw an inflow of $144.9 million, while Grayscale Mini Ether Trust had an inflow of $44.25 million.
With this development, the positive inflow series in Ether ETFs reached its sixth day, totaling a net inflow of 2.33 billion dollars. The assets under management of spot ETH ETFs rose to 27.6 billion dollars, accounting for approximately 4.8% of Ethereum's total market capitalization.

NovaDius Wealth President Nate Geraci noted that the increase in interest in ETH ETFs represents a "notable shift" from the Bitcoin ETFs that dominated the market last year and earlier this year.

On Tuesday, spot Bitcoin ETFs recorded a net inflow of only $65.9 million. Geraci said, "Spot ETH ETFs have been underestimated for a long time because traditional finance investors did not understand ETH. Now they hear the phrase 'the backbone of future financial markets' and it resonates with them."

The price of Ethereum has also risen to $4,683 with an increase of 8.5% in the last 24 hours, nearing the all-time high of $4,878.26 in November 2021. The increase in the use of Ethereum in corporate treasury strategies is also supporting this rise; institutional Ethereum treasuries currently hold approximately $8.9 billion worth of ETH.
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