The post Ethereum ETF Rakes in $200M this Week as Positive Inflows Return appeared on BitcoinEthereumNews.com.

Ethereum exchange-traded funds (ETFs) have experienced a massive inflow of $200 million in funds this week. A major turnaround is observed. The resurgence of investor interest stands in stark contrast to net outflows seen in the cryptocurrency market just a week ago. The data from Farside Investors shows this as a new faith in Ethereum as it is starting to eclipse Bitcoin. In the past few days, Ethereum ETF have recovered from previous losses and far outpaced Bitcoin ETFs in attracting capital. Spot Ether ETFs saw a net inflow of $224.9m from Nov 22 through Nov 27. – Advertisement – For instance, Bitcoin ETFs, mostly saw outflows on Nov 25 at $35.2 million. This is a signal that an increasing number of investors are wagering on Ethereum as it rides a price rally. This is happening amid a positive market environment where major legal and regulatory changes have occurred. Snap | Source: X Legal Victories and Regulatory Speculations Boost Ethereum The successful legal challenge of the U.S. government sanctions on the privacy mixer Tornado Cash was largely responsible for the performance boost of Ethereum ETF. This court victory has played a key role in bringing investor interest back to Ethereum’s decentralized finance (DeFi) ecosystem. – Advertisement – Such speculations in a positive market sentiment also add to the aura of a leadership change at the U.S. Securities and Exchange Commission (SEC). A more crypto-friendly regulatory environment could be on the cards if rumors prove true that pro-crypto advocate Paul Atkins will replace SEC chairman Gary Gensler. Ethereum ETFs seem to be at the same time a strong price rally. Ethereum’s price surged about 8% in the last week and was sitting above $3,590. In contrast to Bitcoin’s market behavior, Bitcoin’s price declined 2%, falling to $96,780. ETH to BTC price…

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Filed under: News - @ November 30, 2024 10:30 pm