The U.S. spot Ethereum (ETH) ETFs have seen strong inflow this week, with more than $2 billion investment. If this week concludes with positive inflows, it will be the largest weekly inflow yet since Ethereum ETFs were launched.
The rise comes as ETH price continues to climb and eye breaking to a new all-time high. At the time of writing, ETH price is hovering around $4,738—up 27% in the past seven days.
As per Sosovalue data, the week started with record inflow of $1.02 billion coming into Ethereum Spot ETFs on Monday, which represents the largest daily inflow since the funds began. On Tuesday, another $523 million was added, and yesterday these ETFs amassed $729 million. Yesterday’s inflow is also the second largest daily inflow yet for Ethereum ETFs.
Ethereum ETFs Outperforming Bitcoin
Bitcoin ETFs, on the other hand, saw smaller inflows. Yesterday spot BTC ETFs had about $86.91 million in net inflows compared to Ethereum ETFs $729 million on the same day. Data shows that firms like BlackRock and Fidelity are behind much of the inflows.
Cas Abbé, a market analyst, said in a post on X, “Ethereum ETFs had their second biggest inflow yesterday. BlackRock, Fidelity and others bought a total of 153,000 ETH worth $729.14 million. Interestingly, the biggest inflow also happened this week, which shows big money is going all-in on ETH. It feels like a new all-time high is coming today for Ethereum.”
ETH Price Enters Acceleration Phase
Year to date, Ethereum (EHT) has posed a gain of 28% while Bitcoin is 27% up. This shows Ethereum is performing better this year overall and likely to attract more investment as there are still plenty of rooms for its price to grow. Total Ethereum ETF assets are now about $29.7 billion. This is roughly 5.22% of Ethereum’s total market value, showing that ETFs are becoming a more important part of the crypto market.
In July, Ethereum ETFs also performed well. Total inflows for the month were $5.43 billion. Early August had two days of outflows, about $617 million in total, signaling investors pulling out their money as a profit taking move due to the positive performance of ETH in July. However, investors returned quickly amid the increased buying momentum of Ethereum, showing confidence in Ethereum.
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