Ethereum’s Resilience: ETF Inflows Fueling Gains Despite Market Pullback

Ethereum continues to hold its ground amidst a broader market downturn, driven by consistent institutional demand and robust ETF inflows. Recent data reveals that Ethereum spot ETFs saw inflows of $421 million on October 7th, marking the seventh consecutive day of positive activity and boosting total holdings to over $30 billion. Furthermore, exchange reserves have fallen to their lowest point in three years, reaching a mere 17.4 million ETH, highlighting the increasing concentration of supply held by corporations and institutions.