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Ethereum price hits $4,000 for the first time since March as ETF demand increases

Ethereum price hits ,000 for the first time since March as ETF demand increases

The price of Ethereum (ETH) jumped above $4,000 on Friday, a level not seen since it briefly reached that threshold in March.

The uptrend is driven by growing demand for Ethereum ETFs, with the funds collectively recording their highest levels ever daily net inflow of more than $428 million on December 5, according to CoinGlass.

Large inflows are coming into Ethereum ETFs amid growing excitement from analysts. Plume CEO Chris Yin said Decipher in November that expectations of more favorable crypto regulation under President-elect Donald Trump are creating “overdue excitement” for the funds, which began trading in the U.S. in July.

That excitement was reflected in the order books this week, with Ethereum ETF products recording more than $750 million Total net inflows according to CoinGlasswhile the price of Bitcoin collapsed First time milestone of $100,000.

Both Ethereum and Bitcoin ETFs have recorded record-breaking inflows since Trump secured a second term in the White House a month ago.

Ethereum lags other major crypto assets as follows Solana (SOL) and Bitcoin (BTC) rose for much of the year and, unlike others, was unable to reach new all-time highs. However, among major assets, it posted the biggest gain last week, rising more than 10% in that time.

Despite Breaking $4,000, Ethereum Remains at 17% from its all-time high of $4,878recorded in November 2021, according to CoinGecko. ETH is currently trading at $4,024, up nearly 4% in the last 24 hours.

Edited by Andrew Hayward

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