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Ethereum Soars to $3,580 as Institutional Investments Surge; Bitcoin ETFs Garner $520 Million Net Inflows Over 11 Days
Institutional demand for cryptocurrencies is hitting new highs, with Ethereum (ETH) crossing the $3,580 mark due to significant inflows into exchange-traded funds (ETFs). Meanwhile, Bitcoin (BTC) ETFs have sustained a streak of robust net inflows for 11 straight days, signaling consistent interest from major investors.
Record-Breaking Inflows into Ethereum Spot ETFs
Institutional activity around Ethereum has reached a new pinnacle. On October 17, Ethereum spot ETFs recorded a staggering $620.2 million inflow, marking the second-highest single-day inflow in the asset class's history, according to data from Faside Investors. The driving force behind this surge was BlackRock’s ETHA ETF, which alone registered $546.7 million in inflows, eclipsing its previous daily record of $499 million just a day earlier.
This impressive performance highlights the growing appetite for Ethereum among institutional investors. Since July 2, BlackRock’s ETHA ETF has experienced consistent daily inflows, with only one trading session seeing outflows—demonstrating sustained confidence in this product by large-scale market players.
Other Ethereum-focused ETFs also saw noteworthy contributions, albeit on a smaller scale:
- Fidelity’s FETH ETF: $17.2 million inflow
- 21Shares’ CETH ETF: $3.8 million inflow
- Bitwise’s ETHW ETF: $4.4 million inflow
- Grayscale’s ETH ETF: $29.9 million inflow
Though the $620.2 million inflow on October 17 was lower than the $726.6 million inflow recorded the day prior, the combined two-day tally exceeded a whopping $1.3 billion, underscoring intensified institutional focus on Ethereum as a digital asset.
Bitcoin ETFs Maintain Steady Growth Over 11 Days
While Ethereum captured headlines, Bitcoin spot ETFs have quietly maintained their momentum. October 17 saw Bitcoin ETFs pull in a net inflow of $522.6 million, following the prior day’s high of $799.4 million. This marks 11 consecutive trading days of strong inflows, underlining sustained interest in the top cryptocurrency.
BlackRock’s IBIT ETF led the charge with a hefty single-day inflow of $497.3 million, further solidifying its position as the leading Bitcoin ETF. Other key ETFs also contributed to Bitcoin’s stellar performance:
- Fidelity’s FBTC ETF: $7.8 million inflow
- VanEck’s HODL ETF: $5.1 million inflow
Notably, BlackRock’s IBIT ETF has topped daily inflow charts in 10 of the past 11 trading sessions, showcasing its dominance in institutional Bitcoin investments.
Growing Institutional Demand for Ethereum and Bitcoin Fuels Price Surge
The latest ETF inflow data paints a clear picture: institutional interest is rapidly expanding across both Bitcoin and Ethereum. This increased demand has reverberated through cryptocurrency prices, triggering impressive gains in the market. Bitcoin briefly reclaimed a critical milestone, trading above $120,000, while Ethereum climbed 7% to hit $3,580.
With institutions deploying considerable resources into cryptocurrencies via ETFs, market analysts are closely monitoring how this trend will impact broader crypto market dynamics in the coming weeks.
Why Institutional Attention on Crypto ETFs Matters
This surge in institutional activity—spanning Ethereum and Bitcoin ETFs—is shaping the future of cryptocurrency markets. ETFs offer businesses and investors a simplified, regulated avenue to gain exposure to digital assets, reducing the complexity of direct cryptocurrency investments. For the broader crypto ecosystem, this growing institutional participation is likely to amplify market liquidity, price stability, and mainstream adoption.
As Ethereum and Bitcoin continue to attract capital at unprecedented levels, it's becoming increasingly clear that institutional investors see cryptocurrencies not as speculative assets but as critical holdings in their portfolios.
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