Ether climbed to end the week as President Donald Trump signed the GENIUS Act into law, while bitcoin and its proxies took a breather.
Crypto stocks were off their session highs as the broader market took a leg lower, after Trump reportedly pushed for greater tariffs on the European Union.
Ether has advanced 18% this week, bringing its two-week gain to about 43% — its strongest two-week period since August 2021.
Ether climbed to end the week as President Donald Trump signed the GENIUS Act stablecoin legislation into law, while bitcoin and its proxies took a breather.
The price of ether was last higher by 2% at $3,506.48, according to Coin Metrics, trading at highs not seen since January and turning positive for the year.
On Thursday, ETFs tracking the price of ether saw daily inflows top those of bitcoin ETFs for the first time ever. The funds logged $602 million in net inflows, led by BlackRock's iShares Ethereum Trust (ETHA). Bitcoin ETFs on the same day saw inflows of $522 million. A day earlier, the ETH funds saw a single-day record inflow of $726.7 million.
