Ethereum ETFs Jump Post ‘Pectra’ Network Upgrade
From Yahoo Finance: 2025-05-09 17:15:00
Ethereum ETFs, like iShares Ethereum Trust (ETHA), surged for a second day after upgrades on the cryptocurrency boosted optimism for competition against tokens like Solana. The $2.3 billion ETHA saw an 8.4% increase, following an 18.2% gain the day prior, despite a 43% drop since its peak in June.
Ether, the token on the Ethereum network, rose 25% in 48 hours post-Pectra upgrade. The upgrade aims to enhance capacity, reduce stress, and improve efficiency as other digital currencies appreciate. Analysts note Ethereum’s focus on increasing transaction speed to catch up to competitors like Solana.
Investors are cautious despite recent price jumps in Ethereum ETFs, with net outflows of $1.7 million from ETHA and $12 million from Grayscale Ethereum Trust ETF (ETHE). Grayscale Ethereum Mini Trust (ETH) saw $12 million inflows, while Bitwise Ethereum ETF (ETHW) had no net flows.
Ethereum funds attracted $250 million in late April amid hopes of SEC approval for staking in ETFs. Despite recent gains, Ethereum has fallen 25% in the past year, lagging behind Bitcoin’s 65% increase. The name “Pectra” stems from Prague, Devcon IV’s location, and Electra, a star in Taurus.
For more information, visit: https://www.etf.com.