US Ethereum Spot ETF Weekly Inflows Reach $1.85 Billion—Second Largest on Record

YM Lee

Summary

The US Ethereum spot ETF recorded inflows of $1.85 billion last week.
This marks the second-largest weekly inflow ever; trading volume saw a slight decline but remains at a high level.
In contrast, Bitcoin spot ETF saw a significant decrease in fund inflows, which has increased the upside potential for major altcoins.

The US spot Ethereum (ETH) exchange-traded funds (ETF) recorded massive inflows of $1.85 billion last week. This marks the second-largest weekly inflow ever.

On the 28th (local time), cryptocurrency-focused media outlet The Block, citing SosoValue data, reported, "Last week, the spot Ethereum ETF saw $1.85 billion in inflows, the second highest ever following the previous week’s record of $2.18 billion."

Last week's weekly trading volume was $10.89 billion, a slight decrease from the previous week's $10.57 billion, but it still remains at a high level.

Meanwhile, spot Bitcoin exchange-traded funds (ETF) saw a significant drop in fund inflows. Last week, spot Bitcoin ETFs had net inflows of $72 million, a sharp decline compared to the previous week’s inflows of $2.39 billion.

Nick Luck, Director of Research at LVRG, explained, "As Bitcoin's volatility has weakened, more traders seem to be shifting into altcoins. This has increased the upside potential for major altcoins, including Ethereum."

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