ETH spot ETF fund inflows hit a new high, with the market expecting a target of $8,000 and institutional investors adjusting their holdings

News on February 10th, over the past week, inflows into ETH spot ETF significantly exceeded BTC spot ETF, with a net increase of 146,541.77 ETH and a total inflow amounting to $391.4 million USD, twice that of BTC spot ETF. The single-day net inflow reached 106,924.01 ETH setting a new historical record for daily inflows. The market generally believes that SEC's adjustments to the ETF scheme have boosted investor confidence in ETH trading and staking mechanisms.

Meanwhile, Zhu Su, co-founder of Three Arrows Capital announced he has closed his BERA short positions and switched to being long on ETH indicating some major market players are adjusting their positions and repositioning towards ETH.

In terms of longer-term market expectations Abra Global CEO Bill Barhydt predicts that the price of ETH could potentially reach $8000 USD. He believes that the Federal Reserve's monetary policy US government tax cuts plan as well as increased trading volume in Bitcoin ETFs will all serve as important catalysts driving up the price of Ethereum (ETH). With institutional capital flows and changes in market structure it is still worth paying attention to future trends for Ethereum (ETH).