Spot %Ethereum (CRYPTO: $ETH) exchange-traded funds (ETFs) have achieved $1 billion U.S. in daily capital inflows for the very first time.
Investors continue to plow money into Ethereum ETFs amid a big rally in the price of the second-largest cryptocurrency by market capitalization.
Ethereum is currently trading at $4,360 U.S., its highest level in more than three years.
Nine U.S.-listed spot ETFs that track the spot price of Ethereum collectively saw more than $1 billion U.S. of daily capital inflows on Aug. 11.
That surpassed the previous daily high of $726.74 million U.S. set on July 17 of this year.
The BlackRock (NYSE: $BLK) iShares Ethereum Trust ETF (ETHA) remains the leading fund, registering inflows of $640 million U.S. on Aug. 11.
Cumulative inflows into the nine Ethereum ETFs now sit at $10.83 billion U.S. with total assets valued at $25.71 billion U.S., equivalent to 4.77% of ETH’s market capitalization.
Ethereum is experiencing a bull run as recent economic data bolsters the case for the U.S. Federal Reserve to lower interest rates beginning in September of this year.
Lower interest rates make riskier assets such as cryptocurrencies more attractive to investors.
Futures traders are now betting that there’s an 84% probability of a 25-basis point interest rate cut from the U.S. Federal Reserve in September.
