Comprehensive Analysis of Ethereum ETFs and Crypto Market Trends
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Ethereum Spot ETFs Experience Continued Growth
The US spot Ethereum ETFs have witnessed another highly successful week, attracting inflows exceeding $900 million. This achievement marks a nine-week streak of gains, coinciding with a broader rally in cryptocurrency prices. During this period, Ethereum (ETH) prices have surpassed the $2,800 mark.
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Ethereum ETFs Achieve Record Weekly Inflows
Over the last week, Ethereum’s price witnessed a substantial weekly increase of 16.22%. According to data from the ETF tracking platform SoSoValue, Ethereum ETFs recorded net deposits totaling $907.99 million, marking their highest weekly inflows since their inception in July 2024. Previously, the record stood at $854.85 million, achieved in the second week of December 2024 during a notable crypto bull run.
BlackRock’s ETHA led the charge, attracting an impressive $675 million, showcasing its dominant market position akin to its Bitcoin counterpart. ETHA now manages assets valued at $6.14 billion, accounting for 45.38% of the total net assets of spot Ethereum ETFs.
Concurrently, Fidelity’s FETH and Grayscale’s ETH and ETHE reported significant net deposits of $87.04 million, $73.53 million, and $36.64 million, respectively. In contrast, Bitwise’s ETHW, VanEck’s ETHV, 21 Shares’ CEZT, and Franklin Templeton’s EZET experienced more modest inflows ranging from $5 million to $16 million.
However, Invesco’s QETH faced another week of negative netflows, continuing its volatile performance. Despite ETHA’s substantial inflows of $6.47 billion, cumulative inflows for spot Ethereum ETFs now stand at $5.13 billion due to significant withdrawals totaling $4.26 billion from the Grayscale ETHA.
The total net assets of these ETFs have reached $13.53 billion, reflecting a 24.93% increase from the previous week. These figures indicate that spot Ethereum ETFs now represent 3.77% of the total Ethereum market capitalization. Meanwhile, Ethereum is currently trading at $2,964 after a slight 0.11% decline in the past day.
The Emerging Altcoin ETF Market
In related news, the US Spot ETF market is on the cusp of welcoming other prominent altcoins beyond Ethereum. Several asset managers have submitted applications for altcoin-affiliated ETFs to the US Securities and Exchange Commission (SEC). These managers aim to replicate the success of Ethereum and Bitcoin ETFs by attracting substantial institutional interest in the cryptocurrency market.
Currently, there are over 70 crypto ETF filings seeking to offer investors access to altcoins such as Solana, Dogecoin, XRP, Cardano, and Litecoin, among others. It is expected that the SEC will continue to delay responses until the final deadlines, most of which are anticipated around October.
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