Ethereum In Demand: ETF Inflow Streak Extends To 7 Weeks
Summary
Institutional demand for Ethereum is strong, with US Ethereum spot ETFs experiencing seven consecutive weeks of inflows. Spot ETFs allow investors to gain cryptocurrency exposure without directly owning tokens. The SEC approved Ethereum spot ETFs in mid-2024, following Bitcoin's approval earlier that year. Since late April, Ethereum spot ETFs have seen a net inflow of 106,000 ETH last week, coinciding with a price rebound from $2,200 to $2,500. In contrast, Bitcoin spot ETFs have recorded three weeks of inflows, with 15,000 BTC inflowing last week, totaling approximately $1.6 billion. Ethereum's inflows amounted to $258.6 million. Currently, Ethereum's price has pulled back to $2,400 after briefly surpassing $2,500.
