For the first time since its Wall Street debut, funds cited in the stock market (ETF) of Ethereum’s native cryptocurrency Ether (ETH), have accumulated capital entries for the 19th consecutive day, marking new records.
Yesterday, on June 12th, these financial products won $112 million. That money infusion has led to over 1 billion tickets over the past 19 days.
Ethereum’s native currency ETFs since it was launched in the market in July 2024 They have accumulated over $38.6 million.
You will see tickets for these money “Institutional Heat” from ETH At the market. These are attractive financial products for corporate investors as they prefer to operate on regulated products.
Another aspect to highlight is that the good performance of these ETFs has a direct impact on ETH prices. At the time of the memo’s publication, the market’s second-most valuable cryptocurrency has maintained its price at over $2,500, and has been on the rise since mid-April.
As Cryptonotics explained, each time demand for these products increases, the companies that manage them must go to the market to purchase the underlying assets, in this case more assets, to support their actions. By simple supply and demand laws, These purchases tend to exercise bullish impulses About ETH prices.
