Ethereum ETFS jumps to “Pectra” network upgrade

Aggregate Ethereum ETFs, including Ishares etheerum Trust (Etha)The surge the next day after the second-largest cryptocurrency upgraded, which boosted optimism, which would compete with other digital tokens that are competing for market share, such as Solana.

As of noon Friday, the $2.3 billion Etha is the largest Ethereum ETF. This was yesterday's 18.2% gain. Nevertheless, even with today's earnings, the fund has fallen by 43% since its highest price since the Ethereum ETF began trading since June.

Tokens that trade on the Ethereum network have increased by 25% in the past 48 hours, according to CoinMarketCap, as the so-called Pectra upgrade was implemented. Among many improvements, these changes are designed to increase capacity, reduce pressure and improve the system as other digital currencies rise.

"Ethereum is now focused on improving transaction power and speed, which will likely help it 'catch up with alternatives like solana," said Luke Nolan, senior Ethereum research assistant at Coinshares, London-based Coinshares in an email. "This is a clear change compared to the 'slow' and more academic approaches that Ethereum developers have taken before."

Despite the rise in the Ethereum ETF prices over the past few days, investors have stayed on the market for a large part rather than putting new funds into the largest amount of money, trading spot tokens. Investors have deducted $1.7 million from Etha since Friday, May 2, and $12 million from the second largest, $2 billion Grayscale Ethereum Trust ETF (ETHE).

The second largest $867 million Grayscale Ethereum Mini Trust (ETH)on May 2, there was a $12 million inflow, while $167.4 million Drill bit Ethereum ETF (ETHW) During this period, neither in nor outflowed.

The Ethereum fund jumped in late April and raised a billion dollars in new funds on the bet, and the Securities and Exchange Commission will allow so-called equity (the verification mechanism of cryptocurrencies) to act as a production device in ETFs.

Tokens have still fallen by 25% over the past year, and Bitcoin’s earnings have lagged behind 65%.

According to Ethereum.org, the name "Pectra" is a combination of Prague (the location of the Devcon IV development conference), and Electra is the blue-white superstar in the Taurus sign.