After a poor performance at the beginning of the year, the US Ethereum spot ETF has successfully reversed its trend in the past few weeks, reflecting a significant change in investor sentiment since the beginning of the second quarter of this year.
According to data from SoSoValue, the US Ethereum ETF saw a net inflow of $25.22 million last Friday (June 6), marking the 15th consecutive day of capital inflow, which is also the second longest period of consecutive inflows since the ETF's debut in July 2024.
Among them, BlackRock's iShare Ethereum Trust (stock code: ETHA) saw a net inflow of $15.86 million last Friday, accounting for a large portion of the daily inflow.
The Grayscale Ethereum Mini Trust (ETH) is the only US Ethereum ETF that has seen net inflows, with a total net inflow of $9.37 million last Friday.
Ethereum Spot ETF Weekly Fund Performance
It is worth noting that in the past week, the weekly net inflow for the Ethereum spot ETF was slightly above $281 million, marking the fourth consecutive week of inflows for the Ethereum ETF. In the previous trading week (from May 26 to May 30), the total net inflow for the Ethereum ETF also exceeded $285 million.
According to market statistics, the US Ethereum spot ETF has seen a cumulative net inflow of nearly $857 million over the past four weeks. These consecutive weeks of positive performance reveal a significant shift in investor attitudes towards Ethereum.
Meanwhile, the change in investor sentiment in the Ethereum spot ETF market is also reflected in the performance of the ETH market price over the past few weeks, with renewed interest and demand for this altcoin, whose value has increased by 7% in the past 30 days.
As of now, the market price of Ethereum is approximately $2,501, with a decline of more than 0.6% in the past 24 hours. However, according to CoinGecko data, the price of this altcoin has decreased by 1.1% over the past seven days.
Bitcoin Spot ETF Market Performance
In contrast, the US Bitcoin spot ETF performed well for most of last month until May 29. Since then, the daily inflows and outflows of cryptocurrency-related financial products have been inconsistent.
According to data from SoSoValue, last Friday, the BTC spot ETF saw a total net outflow of $47.82 million, with a net outflow of nearly $129 million over the past week.
As of now, the market price of Bitcoin is approximately $105,638, with an increase of over 0.1% in the past 24 hours. However, according to CoinGecko data, the price of this 'digital gold' has only risen by 0.2% over the past seven days.
Conclusion:
In summary, after experiencing a slump at the beginning of the year, Ethereum has regained investors' favor due to its technological advantages and market potential. Meanwhile, the slowdown in Bitcoin ETF inflows reflects a divergence within the cryptocurrency market. Whether this change indicates the arrival of an altcoin season is worth investors' close attention.
However, the cryptocurrency market is highly volatile, and future trends remain uncertain. Investors should fully consider their risk tolerance when participating in related investments, closely monitor market dynamics and policy changes, and make rational decisions.