The spot Ethereum ETFs recorded a massive inflow on Wednesday, coinciding with ETH’s rally to $2870.
The 9 exchange-traded funds took in $240.3 million, data from Farside Investors reveals, recording the highest single-day inflow since February 4th.
BlackRock’s ETHA led the pack with a $163.6 million inflow on Wednesday, pushing its assets under management to $5.13 billion. It has now recorded daily inflows for 13 consecutive trading days, adding $787.3 million over that stretch, with no outflows since May 7.
Undoubtedly, institutions and mainstream TradFi investors are on a buying spree.
However, ETFs aren’t without drawbacks, making them a less-than-ideal vehicle for some retail investors. In particular, annual management fees and the absence of ETH staking options mean investors are leaving significant gains on the table.
In contrast, Best Wallet provides a secure, non-custodial solution for ETH storage, with multi-chain support, no KYC requirements, and a range of added benefits.
Ethereum Price Prediction – Could The ETFs Send ETH To A New All-Time High?
Ethereum is quickly overtaking Bitcoin as the best large-cap crypto investment, especially with ETHBTC securing a major breakout from a symmetrical triangle.
The recent wave of inflows into Ethereum ETFs has reinvigorated the asset, helping ETH break past the $2,750 resistance on Wednesday and climb as high as $2,850. It is now retesting the breakout level in an attempt to establish it as new support.
Ethereum is also nearing a major supply shock. Just yesterday, nearly $400 million worth of ETH left exchanges, the biggest single outflow in over a month. Combine the tightening supply with surging demand, as indicated by the rapidly growing ETF inflows, and the stage is set for an explosive rally.
Unsurprisingly, prominent analysts have turned highly bullish. For instance, popular trader Poseidon is anticipating a rally to $6000 in the short term, where he would just sell 30% of his holdings. In the long term, he has identified $7,500 and $10,000 as his price targets.
How To Buy Ethereum – Best Crypto Wallet
While ETFs are excellent investment vehicles for institutions, retail investors can get significantly better perks from specialized crypto wallets.
For instance, Best Wallet, a multi-chain, no-KYC and non-custodial storage solution, allows investors to securely buy, store, trade and spend Ethereum.
Considering it is a multi-chain wallet, users don’t even need separate wallets for Bitcoin, Ethereum, Solana and such. Best Wallet already supports 5 popular chains, including Bitcoin, Ethereum, BNB Smart Chain, Base and Polygon and plans to onboard 60-plus chains, starting with Solana.
As previously mentioned, investors can benefit from attractive perks because Best Wallet offers several cutting-edge features beyond traditional wallet capabilities.
For instance, Best Wallet is gearing up to launch its staking aggregator — a feature that will enable users to stake multiple crypto assets and earn attractive passive income. ETH ETF holders, by contrast, have no access to such yield opportunities.
Investors holding Best Wallet’s native token, BEST, will earn higher rewards, as well as benefit from reduced transaction fees.
Similarly, Best Wallet’s presale aggregator, labelled as the “Upcoming Tokens” in the app, is another excellent feature. It lists the hottest token sales on the market, currently popular coins like Solaxy and BTC Bull, and allows users to invest in them without leaving the application.
Thanks to this feature, retail investors can finally be early to the next 10x and 100x cryptos.
Meanwhile, prominent analysts are even calling the Best Wallet Token the next 10x crypto. After all, it is one of the leading players in the $11 billion non-custodial crypto wallet market and is aiming to capture 40% of it by 2026.
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