- Ethereum ETFs achieved their largest daily inflow ever, surpassing $726 million.
- Ethereum BlackRock ETHA was the leader that took in almost half a billion in one day.
- The treasury of SharpLink Gaming increased by more than 10,000 ETH, which is an indication of institutional trust.
The largest single-day inflow in the history of Ethereum exchange-traded funds (ETFs) occurred on July 16, when a record net inflow of $726.74 million was received by its ETFs.Such a steep rise, about 3.7 times compared to the previous day, highlights a growing institutional demand to gain Ethereum exposure in the form of ETFs.
Source –sosovalue
The inflow saw the cumulative net inflows in Ethereum ETFs rise to 6.48 billion dollars, driving the price of the asset to an all-time high of more than 3,400 dollars, after over half a year. The assets under management in this entire range of ETFs have grown to the sum of 16.41 billion dollars, and this event can be considered as a major milestone in the mainstream institutionalization of Ethereum.
Institutional Surge Drives Ethereum to New Heights
The largest inflows were the iShares Ethereum Trust (ETHA) by BlackRock, which raised close to half a billion dollars in one day, and increased its assets under management to $7.7 billion. Fidelity Ethereum Fund (FETH) was next and attracted more than 113 million within the same day. Other funds like Grayscale and Bitwise too registered significant inflows adding to the strength of demand amongst various providers.
Source – CMC
This capital flux revolution went hand in hand with the success of Ethereum, as it ousted other notable cryptocurrencies like Bitcoin and Solana to go as high as over 3,400 with a daily gain of more than 8.8%. The volumes in trading were also higher with a high value of overall trading being recorded on the ETH spot ETFs standing at a value of $2.59 billion, which is a pointer to the fact that the market was quite active and investors had gained confidence in this market.
Additionally, Ethereum’s open interest has reached a record high of 45 billion dollars, up 60% from the previous month of June. This indicates that more institutions are becoming involved and that they expect further price fluctuations in the future.
SharpLink Gaming’s Large ETH Buy Mirrors Institutional Demand Surge
Source – X
SharpLink Gaming’s treasury presently has 307,358 ETH, which is worth more than 1.03 billion USD. This comes as the company makes an effort to capitalise on the good market trends that are currently occurring.
This increase was brought about by a 10% increase in the value of 10,850 ETH. This significant balance on the side of one of the participants of a large industry speaks in favor of a growing corporate confidence in the Ethereum value proposition, as well as promotes the overall story of the institutional and corporate demand.
