Crypto

Ether Investment Products See $69M Inflows, Highest Since March

Ethereum ETFs drive $69M inflows, Bitcoin products see $2B, total crypto inflows hit $2B last week.

By Max Weldon

6/10, 12:26 EDT
Bitcoin / U.S. dollar
Bitcoin / US Dollar
ethereum USD
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Key Takeaway

  • Ether investment products saw $69 million in inflows last week, the highest since March, following SEC's approval for Ethereum ETFs.
  • Bitcoin products had nearly $2 billion in inflows last week, totaling $16.7 billion year-to-date, driven by US Bitcoin ETF approvals.
  • BlackRock’s iShares Bitcoin Trust surpassed Grayscale’s Bitcoin Trust to become the largest fund with over $21 billion in assets.

Ethereum ETF Approval Sparks Inflows

The U.S. Securities and Exchange Commission's (SEC) unexpected decision to advance the approval process for Ethereum (ETH) exchange-traded funds (ETFs) has led to significant inflows into investment products holding the second-largest cryptocurrency. According to CoinShares International Ltd., investment products worldwide holding Ether saw $69 million in investor inflows in the week ending Friday, marking the highest weekly inflows since March. This decision, made on May 23, has been a pivotal moment for Ethereum, signaling a potential shift in investor sentiment and market dynamics.

Bitcoin Dominates Inflows

Bitcoin (BTC) continues to dominate the crypto investment landscape, with products holding the world's most valuable cryptocurrency seeing inflows of almost $2 billion last week. This brings the total inflows for Bitcoin products to $16.7 billion for the year. The price of Bitcoin has surged by approximately 65% year-to-date, largely driven by the January approval of U.S. Bitcoin ETFs. BlackRock Inc.'s iShares Bitcoin Trust recently surpassed Grayscale's Bitcoin Trust to become the world's largest fund for Bitcoin, holding over $21 billion in assets.

Market-Wide Inflows and Trading Volumes

Crypto investment products saw nearly $2 billion in inflows last week, extending a five-week run to over $4.3 billion, according to CoinShares. Trading volumes in exchange-traded products (ETPs) rose to $12.8 billion for the week, a 55% increase from the previous week. CoinShares analyst James Butterfill noted, "Unusually, inflows were seen across almost all providers, with a continued slowdown in outflows from incumbents." This positive price action pushed total assets under management (AUM) above the $100 billion mark for the first time since March 2024.

Street Views

  • CoinShares International Ltd. (Bullish on Ether):

    "Investment products worldwide holding Ether saw $69 million in investor inflows in the week ended Friday... That’s the highest since March."