Ethereum Whales and ETFs Drive Institutional Demand, ETH Surpasses $4,400
- Whales purchased a total of 46,347 ETH, valued at $204.4 million, in just three hours.
- The price of ETH rose to $4,423, marking a 1.68% increase within the last day.
- Spot Ethereum ETFs recorded inflows of $171 million, raising total net assets to $27.73 billion.
- BlackRock’s ETHA saw the highest inflow of $74.5 million, while Fidelity’s FETH attracted $49.55 million.
- Overall, institutional demand resulted in nearly $375 million in combined purchases from whales and ETFs in one day.
- Over the past month, ETH has increased by 4.64% and is up over 131% in six months.
The significant whale purchases and ETF inflows indicate strong institutional interest in Ethereum as a key asset class, contributing to its recent price surge above $4,400.
With whale acquisitions totaling $204 million and ETF inflows reaching $171 million, Ethereum is experiencing robust institutional support that may sustain its upward momentum.(Source)
