US Ethereum ETF records positive inflows for 4 consecutive weeks – Details
After a year of horrible school opening, the US-based live Ethereum ETF (exchange trade funding) has managed to reverse its wealth over the past few weeks. This positive trend reflects a shift in sentiment among Ethereum investors since the second quarter of the year.
Ethereum ETF invests capital inflows for 15 consecutive days
According to Sosovalue, the U.S. Ethereum ETF net inflows of $25.22 million on Friday, June 6. This latest daily performance marks the 15th day of capital inflows, the second longest since its launch in July 2024, the second day of exchange trade funds.
BlackRock’s Ishare Ethereum Trust (with a stock agent) accounted for the majority of Friday’s inflows, posting $15.86 million to end the week. Grayscale’s Ethereum Mini Trust (ETH) is the only U.S.-based Ethereum ETF fund to record any activity, with net daily inflows of $9.37 million.
The $25.22 million single-day performance brought net inflows over $281 million over the past week, the fourth consecutive week of capital influx of Ethereum-based products. In the last trading week (May 26-May 30), the total net inflow of Ethereum ETF was $285.84 million.
Source: SoSoValue
According to market data, the U.S.-based Ethereum ETF has had a total net inflow of $856.81 million in the past four weeks. Ultimately, these positive performances show a change in investors’ current perception of Ethereum.
Not surprisingly, over the past few weeks, ETH’s price performance has reflected this positive shift in investor sentiment. Altcoin has witnessed new interest and demand, with its value growing by more than 15% over the past 30 days.
As of this writing, Ethereum price is about $2,521, reflecting more than 1% of the past 24 hours. According to Coingecko, Altcoin’s value has dropped by 0.8% over the past seven days.
Bitcoin ETF inflow slows down
For most of the time in the U.S., most of the time in the U.S. ends on Friday, May 29, and Bitcoin ETFs also have their own winning streak. Daily inflows and outflows from financial products linked to cryptocurrencies have performed differently since then.
According to Sosovalue, the net outflow of funds traded on Bitcoin exchanges was $128.81 million in the past week. On Friday, BTC ETFS withdrew a total of $47.82 million, ending the negative number of the trading week.
The price of ETH on the daily timeframe | Source: ETHUSDT chart on TradingView
Featured images from Istock, charts for TradingView
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