Ethereum ETFs See Record Weekly Inflows — Is the Flippening Back?

Over $900 million in inflows and a nine-week winning streak have boosted U.S. spot Ethereum ETFs. The overall increase in cryptocurrency prices has caused Ethereum (ETH) prices to surpass $2,800.

Ethereum gained 16.22% last week. This week, SoSoValue reported $907.99 million in net deposits for Ethereum ETFs, their largest weekly inflows since July 2024. Previous record inflows were $854.85 in the second week of December 2024 during the cryptocurrency rally.

BlackRock's ETHA attracted $675 million in record weekly inflows, demonstrating its dominance in the market, just like Bitcoin. The ETHA has $6.14 billion in assets under management, accounting for 45.38% of the liquid assets of spot Ethereum ETFs.

Fidelity's FETH and Grayscale's ETH and ETHE also recorded large net deposits of $87.04 million, $73.53 million, and $36.64 million. However, Bitwise's ETHW, VanEck's ETHV, 21 Shares' CEZT, and Franklin Templeton's EZET experienced moderate inflows ranging from $5 million to $16 million.

Invesco's QETH continued to perform poorly, resulting in another week of negative net outflows. This week, spot Ethereum ETFs saw $5.13 billion in total inflows, despite inflows of $6.47 billion from ETHA due to $4.26 billion in withdrawals from Grayscale ETHA.

The total liquid assets of these ETFs are $13.53 billion, an increase of 24.93% compared to last week. These numbers show that spot Ethereum ETFs currently represent 3.77% of Ethereum's market value. After a drop of 0.11% yesterday, Ethereum is trading at $2,964.

Other popular cryptocurrencies besides Ethereum may soon enter the U.S. spot ETF market. Several ETF applications related to altcoins have been submitted to the U.S. Securities and Exchange Commission (SEC) by asset managers to replicate the success of Ethereum and Bitcoin ETFs in attracting institutional interest to the cryptocurrency market.

More than 70 cryptocurrency ETFs seek to provide investors access to Solana, Dogecoin, XRP, Cardano, and Litecoin. By the final deadline, usually in October, the SEC may delay its response.

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