Ether Sees 30% Year-to-Date Increase Amid Rising ETF Demand
Ether (ETH) has recovered sharply after a 55% drawdown earlier this year, according to a report from Citi. Key points include:
- ETH is up nearly 30% year-to-date, challenging Bitcoin's (BTC) dominance.
- Spot ether ETFs have seen net inflows exceed $13 billion, rising from $2.6 billion in April.
- Large purchases by ether treasury firms began in May, with collective holdings near $10 billion.
- Large wallets are accumulating ether while smaller investors reduce exposure, contributing to a supply shift back on-chain.
- The rally is supported by increased on-chain activity and a favorable macroeconomic environment.
Analysts suggest that the combination of these factors may support further price increases for ether.