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Sujit Kumar
Nov 30, 2024
by Sujit Kumar

Ethereum ETFs Surpass Bitcoin ETFs in Net Flows for the First Time

Ethereum ETFs Surpass Bitcoin ETFs

Table of contents

  1. Ethereum Price Outlook
  2. Institutional Confidence in Ethereum
For the first time, Ethereum ETFs have outpaced Bitcoin ETFs in net inflows. According to Farside data, Ethereum ETFs recorded $332 million in net inflows on November 29, compared to Bitcoin ETFs’ $320 million. This milestone highlights Ethereum’s growing appeal among institutional investors and marks a significant step forward in its adoption.

Ethereum’s Profitability and Price Surge

The profitability of Ethereum (ETH) has also reached its highest point since June, with 90.8% of ETH holders now in profit, as per IntoTheBlock data. The price of ETH responded with a substantial rally, briefly surpassing $3,660 before undergoing a minor correction to $3,688.

Ethereum Price Outlook

Key resistance for ETH lies at the $3,800 level. Breaking this threshold could push the price toward $4,000, potentially triggering a wave of short liquidations that might further amplify gains. However, the approach to $4,000 brings increased volatility, which could result in significant price swings.

As Ethereum inches closer to the $4,000 mark, caution is advised due to potential market reactions at critical liquidation levels.

Institutional Confidence in Ethereum

This landmark moment underscores the shifting dynamics in cryptocurrency investment. Ethereum’s stronger ETF inflows and rising price performance reflect growing confidence in its ecosystem, positioning it as a leading contender alongside Bitcoin in the evolving digital asset market.

Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
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Ethereum ETFs Surpass Bitcoin ETFs
Ethereum ETFs Surpass Bitcoin ETFs in Net Flows for the First Time
Sujit Kumar
Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.

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