Institutions dropped $533M on this altcoin yesterday while Bitcoin got dumped
Institutional demand for Ethereum (ETH) is gaining serious momentum. Yesterday, July 22, Ethereum ETFs experienced one of their largest single-day inflows in two weeks, bringing in $533 million. Ethereum ETF Flow. Source: FarSide Investors In sharp contrast, Bitcoin ETFs recorded $68 million in outflows, a striking reversal that hints at a potential shift in institutional crypto appetite. This marks one of the biggest day-to-day divergences between the two flagship cryptos since spot Ethereum ETFs launched earlier this year. Some traders are now pointing to this move as a possible signal that ‘altcoin season’ is getting underway. Institutions rush in Fidelity made one of the biggest single-day buys this week, with its Ethereum Fund (FETH) adding 33,788.82 ETH, roughly $124 million, in just one day. The purchase brings Fidelity’s total Ethereum holdings to 629,202 ETH, valued at approximately $2.33 billion at current market prices. But Fidelity isn...