Ethereum News Today: US Spot Ether ETFs See Record $717 Million Inflow Driven by Institutional Investments

US spot Ether exchange-traded funds (ETFs) achieved a new daily net inflow record of $717 million on Wednesday, coinciding with a rally in altcoins. This significant inflow was driven by substantial investments in major ETFs, with BlackRock's ETHA leading the way with a net inflow of $489 million. Fidelity’s FETH fund followed closely with the second-highest net inflow of $113 million.

This record-breaking inflow marks a notable milestone for US spot Ether ETFs, which now collectively hold more than 5 million ETH, accounting for over 4% of the circulating supply. Prior to Wednesday’s results, the highest daily net inflow on record was $428 million, recorded on Dec. 5, 2024.

In the past 24 hours, $6.74 million worth of ETH was issued by the network, while US spot Ether ETFs bought nearly 107 times the issuance on Wednesday. This surge in investment reflects growing institutional interest in Ethereum, with the Chief Investment Officer of Bitwise, Matt Hougan, noting that Ethereum spot ETFs have recorded net inflows of more than $1 billion in the past two months.

The rally in altcoins, coupled with the record inflows into Ethereum ETFs, suggests a positive outlook for the cryptocurrency market. Institutional investors have shown significant interest in Ethereum, contributing to the bullish sentiment. The inflows into Ethereum ETFs have surpassed the $5 billion mark in net inflows for the first time since their approval, highlighting the growing acceptance and adoption of Ethereum as a mainstream investment asset.

This trend is likely to continue as more investors recognize the potential of Ethereum and other altcoins, driving further growth and adoption in the market. The substantial investments in Ethereum ETFs indicate that investors are optimistic about the future of Ethereum and the broader cryptocurrency market.