Ethereum ETFs Experience Third Straight Day of Inflows Amid Price Gains

Ethereum Exchange-Traded Funds (ETFs) have recorded a remarkable streak, with three consecutive days of net inflows. The latest influx has brought the total investment in these funds to over $260M.

This surge in demand for Ethereum ETFs is significant, indicating that institutional investors are increasingly confident about the cryptocurrency's future prospects.

The data from SoSoValue shows that on May 1, May 4, and May 5, Ethereum ETFs attracted $101.1M, $61.2M, and $97.5M in investments respectively. BlackRock's ETHA fund accounted for the largest share of these inflows.

The price of Ethereum has also been rising, with a one-week gain of over 3%. Technical indicators suggest that this upward trend is likely to continue, with the MACD indicator indicating a buy signal and the 13-day bull/bear power indicator showing buyers are in control.