Ethereum ETFs See Record Weekly Inflows — Is the Flippening
koinmilyoner
Updated at: 8 hours ago
{"content":"Ethereum ETFs See Record Weekly Inflows — Is the Flippening Back On?
Over $900 million inflows and a nine-week winning run have boosted US spot Ethereum ETFs. The broad crypto price increase has sent Ethereum (ETH) prices beyond $2,800.
Ethereum gained 16.22% last week. This week, SoSoValue reported $907.99 million in net deposits for Ethereum ETFs, their biggest weekly inflows since July 2024. The previous record inflows were $854.85 in the second week of December 2024 during the crypto bull run.
BlackRock's ETHA garnered $675 million of the ATH weekly inflows, demonstrating its market dominance like Bitcoin. ETHA has $6.14 billion in assets under management, 45.38% of spot Ethereum ETF net assets.
Fidelity's FETH and Grayscale's ETH and ETHE also saw large net deposits of $87.04 million, $73.53 million, and $36.64 million. But Bitwise's ETHW, VanEck's ETHV, 21 Shares' CEZT, and Franklin Templeton's EZET experienced moderate inflows of $5 million to $16 million.
Invesco's QETH continued to perform poorly, resulting in another week of negative netflows. This week, spot Ethereum ETFs have had $5.13 billion in total inflows, despite ETHA's $6.47 billion inflows due to $4.26 billion in Grayscale ETHA withdrawals.
The total net assets of these ETFs are $13.53 billion, up 24.93% from last week. These numbers show that spot Ethereum ETFs currently make up 3.77% of the Ethereum market value. After a 0.11% drop yesterday, Ethereum trades at $2,964.
Other popular cryptocurrencies than Ethereum may soon enter the US Spot ETF market. Several altcoin-related ETF applications have been filed to the US Securities and Exchange Commission (SEC) by asset managers to repeat the success of the Ethereum and Bitcoin ETFs in bringing institutional interest to the crypto market.
Over 70 crypto ETFs seek to provide investors access to Solana, Dogecoin, XRP, Cardano, and Litecoin. Until the final deadline, usually October, the SEC may postpone its reply.
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