Ethereum exchange-traded products dominate inflows despite Bitcoin’s new highs
Global cryptocurrency investment products saw $3.75 billion in inflows last week, marking one of the strongest weeks for the sector this year. The surge was led by Ether exchange-traded products (ETPs), which outpaced Bitcoin despite the world’s largest cryptocurrency hitting new all-time highs above $124,000.
According to data from CoinShares, Ether ETPs attracted $2.9 billion in inflows, accounting for the majority of the week’s total. The demand came as ETH prices approached all-time highs near $4,700, with CoinGecko data showing the token trading around $4,234 on Thursday.
While Bitcoin’s record rally generated headlines, BTC ETPs only pulled in $552 million, roughly 15% of weekly inflows. This highlights a growing institutional appetite for Ethereum-based investment vehicles, particularly spot ETFs launched earlier this year.
Altcoins See Mixed Results
Other digital asset products posted mixed performances. Solana (SOL) funds recorded $176.5 million in inflows, while XRP investment products attracted $125.9 million. By contrast, Litecoin (LTC) and Toncoin (TON) saw outflows of $0.4 million and $1 million, respectively, reflecting weaker investor sentiment.
Record-Breaking Trading Volumes
Last week also marked a milestone for spot crypto ETFs. Bloomberg analyst Eric Balchunas noted that trading volumes reached $40 billion in just four days, making it the busiest week ever for the sector.
“ETHSANITY: Ether ETFs weekly volume was about $17 billion, blowing away records,” Balchunas wrote on X, crediting the surge to Ethereum’s rising momentum.
Nate Geraci, president of NovaDius, echoed the sentiment, adding:
“Spot Ether ETFs absolutely obliterated previous weekly trading volume records. Wonder if there are any ‘no demand’ naysayers still out there.”
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.