Ethereum Spot ETF Records $240 Million in One Day Inflows, Overtaking Bitcoin ETF

It has been revealed that the net inflow into Ethereum (ETH) spot ETFs in the United States exceeded the net inflow into Bitcoin (BTC) spot ETFs in a single day on the 12th (local time).
The Block reported that the Ethereum ETF has recorded net inflows for 18 consecutive days, with a net inflow of $240.3 million recorded on the 12th. On the same day, the Bitcoin ETF
According to ETF information platform SoSoValue, BlackRock's ETH accounted for 1.2 billion ETH inflows on the day.
A was the largest with $163.6 million, followed by Fidelity's FBTC with $37.28 million. Other notables include Grayscale's mini Ethereum
Mutrust, ETHE, and Bitwise's BITW also saw net inflows. Market experts attribute this sudden inflow of funds to the development of DeFi and stable coins.
Nick Lack, research director at LVRG, said, "The SEC may consider applying an exception to DeFi.
"This suggests that Ethereum is an undervalued asset, and investors are seeing it as an undervalued asset," he said. In particular, the altcoin market has also seen a significant rise in the past year, with Bitcoin hitting an all-time high.
The analysis is that these experiences have led to demand for Ethereum. As market participation has increased, Ethereum's derivatives trading volume has exceeded $106 billion, 80% of Bitcoin's.
Data from CoinGlass showing that the value of Ethereum has exceeded $500 million is also supporting investment sentiment. Meanwhile, the price of Ethereum was 10.5% on the cryptocurrency market website CoinMarketCap as of 3:55 p.m. on the 12th.
The price was recorded at $2,769 (approximately 398,000 yen) on the 10th.