After a terrifying start to the year, the US-based Spot Ethereum ETF (Exchange-Traded Funds) have been successful over the past few weeks. This positive trend reflects a shift in Ethereum investors’ sentiment since the start of the second quarter of this year.
Ethereum ETF has reached capital inflows for 15 consecutive days
According to data from SOSOValue, the US Ethereum ETF registered a net inflow of $2,522 million on Friday, June 6th. This latest daily performance marked the second-longest winning streak since its launch in July 2024, for the 15th consecutive day of capital inflows.
BlackRock’s Ishare Ethereum Trust (with ticker ETHA) made up a major part of Friday’s influx, closing the week of $15.86 million. Grayscale’s Ethereum Mini Trust (ETH) is the only US-based Ethereum ETF fund that records all activities, with a total net inflow of $9.37 million each day.
This $2,522 million daily performance has led to a net weekly inflow just over $281 million over the past week. During the previous trading week (May 26 to May 30), Ethereum ETF recorded a similar total net inflow of $285.84 million.
Source: SoSoValue
Market data shows that the US-based Ethereum ETF has recorded a total net inflow of $856.81 million over the past four weeks. Ultimately, these positive performances show a change in the way investors are watching Ethereum at this point.
Naturally, this positive shift in investor sentiment is reflected in ETH’s price performance over the past few weeks. Altcoin has seen its value rise by more than 15% over the past 30 days, with renewed interest and demand.
At the time of writing, Ethereum priced around $2,521, reflecting over 1% over the last 24 hours. According to Coingecko data, Altcoin values have fallen by 0.8% over the past seven days.
Influx of Bitcoin ETFs That Slow Speed
The US spot Bitcoin ETF brought its own winning streak for most of last month before it ended on Friday, May 29th. Crypto-related financial products have since had a complex performance of daily inflows and outflows.
Bitcoin exchange trade funds have recorded net flow of $128.81 million over the past week, according to SoSovalue data. On Friday, the BTC ETF withdrew a total of $47.82 million, ending the trading week with a negative note.
The price of ETH on the daily timeframe | Source: ETHUSDT chart on TradingView
ISTOCK featured images, TradingView chart
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