Ethereum exchange-traded funds (ETFs) in the US have had a major turnaround. After a rough start to the year, they’ve seen four straight weeks of positive cash flow.
Fifteen Days of Inflows
Data shows that US Ethereum ETFs saw a massive $25.22 million inflow on June 6th. This was the 15th consecutive day of inflows – a really long streak! BlackRock’s iShare Ethereum Trust (ETHA) led the way, with $15.86 million flowing in. Grayscale’s Ethereum Mini Trust (ETH) also saw a significant inflow of $9.37 million.
The Big Picture: A Lot of Money Coming In
This single-day surge added to an already impressive week. The total inflow for the week topped $281 million, marking the fourth consecutive week of positive inflows. The previous week was similar, with about $285 million coming in. In total, over the past four weeks, these ETFs have seen a whopping $856.81 million in net inflows.
Why the Change?
This shows a clear shift in investor sentiment towards Ethereum. This positive feeling is reflected in ETH’s price, which is up over 15% in the last month. Currently, ETH is trading around $2,521.
Bitcoin ETFs: A Different Story
Meanwhile, US Bitcoin ETFs had a good run, but that ended on May 29th. Last week, they actually saw a net outflow of $128.81 million, with $47.82 million withdrawn on Friday alone.
