Ethereum price recovers as institutional investors inflow into the cryptocurrency; spot ETF records net inflows for 16th consecutive day

Recently, analysts have reported that large inflows from institutional investors have driven the price rise of Ethereum. Last week, nine Ethereum spot exchange-traded funds (ETFs) received $1.8 billion in funding.
The Bitcoin Spot ETF saw net inflows of just $70 million during the same period, marking the 16th consecutive trading day of net inflows.
Juan Leon, chief investment strategist at Bitwise, said, "The trend of inflows into Ethereum spot ETFs is likely to continue in the short term."
"I think Ethereum will perform well in the coming months," he said. At 10:29 a.m. on the same day, Ethereum was trading at $3,858 on CoinMarketCap, up 2.42% from the previous day.
It was drawn.