If you believe that the price of Ether (ETH) at the beginning of the month crashed with $ 2,000 in some exchanges would move investors away, think again. The activity in the ETF Spot that they quote in the United States indicates that merchants have strongly turned to Ether de Bitcoin (BTC).
This month, the nine funds quoted in the Stock Exchange (ETF) of Ether Spot listed in the US. Have registered a net accumulative entry of $ 393 million, according to data from Farside investors. This figure is also seven times larger than the entrances observed in January, as reported by Glassnode. In particular, these funds experienced outings in just two days of negotiation.
In contrast, Bitcoin’s 11 ETFs have faced a net exit of $ 376 million this month. The feeling has been so weak that these funds have registered tickets in just four days of negotiation.
The ETH pivot is driven by transport trade, which implies buying ETF spot and shorten ETH cme futures simultaneously. In addition, some of the ETF tickets could be direct directional plays.
However, the pivot of investors to the ether has not yet translated into higher prices for cryptocurrency.
ETH, which promotes the Smart Contract Blockchain of Ethereum, has mainly negotiated between $ 2,600 and $ 2,800 since the accident of February 3. Bitcoin has also been blocked in a narrow range below $ 100,000 amid the volatile price share in Memecoins.
Even so, some observers expect ether prices in the back of the impending Ethereum’s sick .
“ETH has a solid base for resurgence. The sicking update, scheduled for April 8, for example, is bringing improvements in the network, faster transactions and better betting mechanics,” said Nick Forster, founder of the Decentralized options platform. email.
Forster explained that the founder of Ethereum, Vitalik Butein, for a 10x increase in L1 gas limit points to improve the development and safety of the application. In addition, the recent allocation of $ 120 million of the ETH Foundation to the Defi projects is pointing out a renewed approach in the adoption and institutional interest through Etrealiz. Directed by Vivek Raman, Etreealize aims to integrate traditional financial institutions in the Blockchain world.
“Now there is a 30% chance that ETH reaches over $ 3K at the end of the quarter, compared to 28% last week,” Forster added.
