Ethereum is clearly building some serious momentum. Institutional investors are diversifying their crypto portfolios and turning their focus away from Bitcoin. This change is underscored by record investment into ethereum exchange-traded funds (ETFs) and a new all-time-high in staked Ethereum.
All Ethereum ETFS have seen net inflows for the last 15 days, totaling $837 million. This milestone came in the wake of an 8% increase in Ethereum’s price, demonstrating a bolstering confidence in the crypto space.
As of June 10, the value of staked Ethereum reached an all-time high. We’re happy to say it did, getting as high as 34.65 million ETH, according to beaconcha.in. This translates to 28.7% of the total circulating supply, showing robust engagement in the network’s staking mechanism.
If recent moves are any indication, institutional investors may be making a calculated turn. BlackRock, the largest investment complex on Earth, liquidated some $130.4 million in Bitcoin on June 3. More than $100 million in ETH buys took place since Monday. This is a strong indication of the degree to which institutional investors are getting set to move their capital onto Ethereum.
B2BINPAY analysts welcomed all their insights on June 10, citing Ethereum’s growing momentum as one of the main forces pushing up institutional interest. They argue that Ethereum’s myriad of applications and unlimited scope provide investors hungry for alternatives to Bitcoin an irresistible draw.
