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The cryptocurrency market seems to be working in phases. There was a time when the market and institutions were compulsively betting on Bitcoin, holding the token at a record pace. With time, a new narrative is taking shape in the cryptocurrency market, with Ethereum taking center stage as an emerging leading asset. Bitcoin and Ethereum both have been driving the course of the market as of late, with ETH driving maximum surge, inviting new institutional interest into the radar. What’s happening to Ethereum? What does this surge truly mean? Let’s find out. Also Read: Why $4,700 Ethereum (ETH) Remains a Strategic Entry Point Institutions Are Now Keenly Exploring Ethereum Source: Watcher Guru Leading financial giants like Fidelity, Grayscale, and BlackRock have all turned towards Ethereum in a new development. These companies have lately been bulking up on ETH, making hefty purchases of the token. Per a recent Arkham report, BlackRock has purchased $318M worth of ETH, while Fid...

Traditional finance continues to pour capital into crypto, with Fidelity’s Ethereum ETF (FETH) recording a $25.7 million daily inflow on June 30, according to data from Farside Investors.  The purchase of 10,283.08 ETH follows a $28.9 million purchase on June 27, meaning Fidelity’s Ethereum ETF has received $1.69 billion in net inflows so far across its spot ETF product. Ethereum ETF inflows. Source: Farside Investors Institutional momentum builds These back-to-back inflows mark one of Fidelity’s most aggressive accumulation streaks to date. While flows into crypto ETFs can be volatile, two large purchases in less than 72 hours is seen by analysts as a strong signal of institutional conviction. BlackRock also joined the buying spree, adding $6.1 million to its ETHA ETF on June 30, after purchasing $48.1 million on June 27, BlackRock’s ETH ETF has attracted $5.52 billion in inflows since launch, the largest among all Ethereum ETF issuers so far. Crypto marke...