Investor preference tilts towards Ethereum (ETH) as Exchange-Traded Funds (ETFs) report a $393 million surge in inflows, while Ethereum’s impending ‘Pectra’ protocol upgrade aims to fortify its blockchain, enticing positive market forecasts.
Ethereum’s price dropped 8% to $3,150 following its spot ETF launch, causing $97.8 million in liquidations and outpacing Bitcoin’s $80.9 million in the last 24 hours.
The SEC has approved multiple Ethereum spot ETFs, allowing traditional market investors to gain exposure to the world’s second-largest cryptocurrency, marking a significant milestone in the crypto investment landscape.
China has approved the launch of spot Bitcoin and Ethereum ETFs in Hong Kong, which could drive up demand and prices for major cryptocurrencies.
