Ethereum ETFs Surge: 4 Weeks of Massive Inflows
US-based spot Ethereum exchange-traded funds (ETFs) have experienced a remarkable turnaround, marking four consecutive weeks of significant positive inflows. This surge follows a challenging start to the year and mirrors a broader shift in investor sentiment towards Ethereum since the second quarter began. Data from SoSoValue reveals that on June 6th alone, US Ethereum ETFs saw a net inflow of $25.22 million, extending a 15-day streak of capital inflows—the second longest since their July 2024 launch. BlackRock’s iShare Ethereum Trust (ETH) led the charge with $15.86 million in inflows, while Grayscale’s Ethereum Mini Trust (ETH) contributed another $9.37 million. This impressive single-day performance contributed to a total weekly inflow exceeding $281 million, following a similar $285.84 million inflow the previous week. Over the four-week period, total net inflows reached $856.81 million, showcasing a clear change in investor perception of Ethereum. This positive sentiment is reflected in ETH’s price, which has risen by over 15% in the last 30 days, currently trading around $2,521. In contrast to Ethereum’s success, US spot Bitcoin ETFs experienced a reversal, recording a net outflow of $128.81 million in the past week, ending a previous positive streak. This shift highlights the diverging investor sentiment between the two leading cryptocurrencies. The significant inflows into Ethereum ETFs suggest growing confidence in the asset and its potential for future growth, prompting a closer examination of the factors driving this renewed interest in the market.
(Source: https://bitcoinist.com/ethereum-etfs-record-four-weeks-of-positive-inflows/)
