Ethereum ETFs Attract $393 Million as Bitcoin Investors Shift Focus

Summary

Investors are moving their focus to ether exchange-traded funds (ETFs) this month, seeing inflows of $393 million as confidence in bitcoin ETFs wanes amidst a $376 million outflow. The upcoming Pectra upgrade for Ethereum is expected to bolster ether prices, with Nick Forster, founder of Derive.xyz, stating that “ETH has a solid foundation for a resurgence.”

Key Highlights

Net inflows for ether spot ETFs this month reached $393 million, significantly more than the $57 million in January.
Bitcoin ETFs faced a net outflow of $376 million as interest fades.
The positive outlook for ether is supported by the Pectra upgrade anticipated to improve transaction efficiency and competition with other Layer 1 networks like Solana.

Market Trends

Ether, following its price crash earlier in the month, has sustained trading between $2,600 and $2,800. Observers predict a 30% chance of ether exceeding $3,000 by quarter-end, up from 28% last week.

With Ethereum’s planned enhancements and financial commitments to DeFi initiatives through ETHrealize, institutional interest appears to be on the rise.