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Ethereum ETFs Are Back in the Spotlight – Bulls are Back
The Ethereum (ETH) market has seen a significant shift in the past week of April, as institutional investors have rekindled their interest in the asset. Following a period of lukewarm demand, ETH’s exchange outflows and inflows took an unexpected turn, with the latter increasing substantially.
According to recent reports, it is evident that institutions invested approximately $262.7 million worth of ETH in the past week of April. This substantial influx of capital marks a stark contrast from the predominantly negative flows observed in ETH ETFs over the preceding three weeks. The sudden surge in interest is a welcome development for bulls, as it signifies a turning point in institutional participation.
ETH’s price performance has also mirrored this increased demand, rising by roughly 4.2% in the past week of April. Although the asset did not surpass Bitcoin (BTC) in terms of weekly gains, which saw a significant increase of 10.64%, ETH managed to exceed $1,800 for the first time since…
Source: https://bitcoinik.com/ethereum-etfs-back-in-the-spotlight-bulls-are-back/
