Ethereum’s rally is fueled by the robust institutional involvement, especially through Ethereum spot ETFs. According to SoSoValue, Ethereum spot ETFs experienced a net inflow, none of the nine approved ETH spot ETFs experienced an outflow. The net inflow for ETH spot ETFs totaled $63.47 million on May 14.
BlackRock’s ETHA ETF led the charge, which had a net inflow of $57.6 million in just one day. Cumulatively, the ETF had a net inflow of $4.26 billion, signifying strong belief in Ethereum’s long-term potential from institutional investors.
While traditional investors dumped approximately $10.83 million in Ethereum over the same time, institutional buyers easily outpaced this. Another bullish signal is that ETH balances on exchanges have dropped to 19.10 million, indicating decreased selling pressure and strong holding sentiment.