These 6.3 million ETH directly impact the price of the asset.
In the case of Bitcoin ETFs, the percentage they accumulate of the total is slightly higher.
Ether (ETF) quoted funds (ETH) in the United States have consolidated their presence in the market.
These financial instruments have 6.3 million ETH, equivalent to 27,000 million dollars, according to cryptootic price calculator, which shows a growing integration of this cryptocurrency in conventional financial markets.
At the moment, 5 out of 100 eth are held by these ETFs, representing 5.3% of the total supplyaccording to data of Soso Value.
In addition, these funds have registered a constant capital flow, accumulating tickets for 3.7 billion dollars for eight consecutive days.
Last week, Weekly net tickets reached 2,850 million dollarscompared to 325 million of the previous week, according to Soso Value. In that same period, the price of ETH returned to levels of 2021, approaching $ 4,900, its historical maximum, although in the current day it has fallen to $ 4,300.
The performance of the ETF directly impacts the eth price. The managers of these funds buy and maintain the cryptocurrency to support their actions. When the demand for these products grows, firms acquire more ETH in the market, promoting their price by the law of supply and demand.
However, ETH could experience a strong climb if Bitcoin’s behavior equals, active before which he has shown weakness in this cycle. In comparison, the Bitcoin ETFs They control 6.5% of the total supply of that cryptocurrency, a percentage slightly higher than that of the ETH funds.
For their part, corporate treasury also reinforce their commitment to ETH. According to Exchange Coinbase, these entities They have more than 2% of the total supply of the cryptocurrency. Bitmine Immersion leads with 1.5 million ETH in its treasury, while corporate holdings already total 4 million eth.
Meanwhile, investor Ted Pillows holds that The narrative that ETH could reach $ 10,000 in this cycle It is a concrete possibility. “ETH remains the best macro operation that exists: institutional entry, high network activity and a level below the maximums of 2021. ETH to 10,000 dollars is scheduled for this cycle,” said Pillows, highlighting the bullish potential of the cryptocurrency.
