Spot %Ethereum (CRYPTO: $ETH) exchange-traded funds (ETFs) have seen $4 billion U.S. of inflows in the past two weeks as a rally in the %Cryptocurrency gathers steam.
Spot Ethereum ETFs have now recorded 13 consecutive trading days of capital inflows, with the total amount during the period nearing $4 billion U.S.
The strong ETF inflows come as the price of Ethereum has risen 64% in the past month to reach $3,675 U.S., near its highest level of the year.
Investors are turning to Ethereum as the rally in cryptocurrencies broadens out after U.S. President Donald Trump signed sweeping crypto legislation into law.
Ethereum is also benefitting as a yield bearing crypto after the GENIUS Act signed into law by President Trump bans %Stablecoins from offering any yield, or interest.
Market data shows that Ethereum’s short-term demand is outperforming supply, suggesting that the current rally in ETH will continue in the near term.
A growing number of options traders are betting that Ethereum’s price will surpass $4,000 U.S. by September of this year and $10,000 U.S. by year’s end.
Ethereum is the second largest cryptocurrency by market capitalization after %Bitcoin (CRYPTO: $BTC).
While ETH is currently surging, the rally in BTC has stalled at around $118,000 U.S.
