Ether has dragged itself out of the doldrums in recent weeks to advance to about US$4,300, the highest since December 2021, as investors rotate out of Bitcoin. Bitcoin ETFs in the US have suffered outflows of US$502 million since the start of August — even as it hovers within striking distance of an all-time high.
US exchange-traded funds (ETFs) focused on Ether notched their biggest single-day inflow as the second-largest cryptocurrency rallied to its highest level in nearly four years.
The spot Ether ETFs collectively pulled in a little over US$1 billion ($1.29 billion) on Monday, according to data compiled by Bloomberg. More than US$8.2 billion has flowed into the nine funds so far this year.
