US-Listed Ether (Eth) Exchange -traded funds (ETFS) Surpassed $ 1 billion in daily inflow for the first time Monday, when the second largest cryptocurrency hit its highest price in over three and a half years.
The nine ETFs comfortably surpassed the previous daily height of $ 726.74 million from July 17, according to data traced by Sosovalue.
Blackrocks (Blk) Etha led the way and recorded influx of just under $ 640 million, while Fidelity’s Feth was a fairly distant second with $ 276.9 million. Cumulative influxes in the funds are now at $ 10.83 billion with total assets worth $ 25.71 billion, equivalent to 4.77% of Ether market capital.
ETH rose as high as $ 4,358 Monday, its highest level since December 2021, according to Coindesk data.
Ether’s winnings followed data that cemented expectations that the Federal Reserve would lower interest rates, making more attractive assets. The probability of a 25 -base point cut in September is approx. 84%according to CME’s FedWatch tool.
In addition, the US security and exchange commission (SEK) Finally, his lawsuit against XRP developer Ripple fell, giving a further boost to the wider Altcoin market.
Read more: ETH transaction volume climbs on price rally, cheaper defi costs
