Ethereum Inflows Soar: Record Week With $69M As ETFs Near Trading Launch, What’s Next?

Ethereum Inflows Soar: Record Week With $69M As ETFs Near Trading Launch, What’s Next?


Following the recent price spike that brought Ethereum (ETH) close to the $4,000 mark, the second-largest cryptocurrency has experienced inflows and renewed market enthusiasm. This comes in response to the US Securities and Exchange Commission’s (SEC) approval of Ethereum ETF applications by major asset managers.

Best Week For Ethereum Since March 

According to a report by CoinShares, digital asset investment products have witnessed a total of $2 billion inflows, contributing to a five-week consecutive run of inflows amounting to $4.3 billion. 

Trending: Doorbell Cam Catches Bill Belichick, 72, Leaving 24-year-Old Ex-Cheerleaders Home

Additionally, trading volumes in exchange-traded products (ETPs) have risen to $12.8 billion for the week, a 55% increase from the previous week.

Notably, inflows have been observed across various providers, indicating a turnaround in sentiment. Incumbent providers have also experienced a slowdown in outflows,

Continue reading


 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!