Ethereum Leads Crypto Inflows with $296 Million
The post Ethereum Leads Crypto Inflows with $296 Million appeared on BitcoinEthereumNews.com. The latest CoinShares report reveals that crypto inflows soared to $224 million last week. Meanwhile, Ethereum (ETH) continues solidifying its position as a frontrunner in institutional sentiment. The second-largest crypto by market cap continues to record positive returns, with fortunes turning since the Pectra Upgrade hit the mainnet on May 7. Ethereum Records Strongest Inflow Streak Since US Elections CoinShares’ latest report indicates that Ethereum posted $296.4 million in inflows last week, marking its strongest run since the November US elections. The inflows helped push total weekly crypto inflows to $224 million, extending the ongoing seven-week streak to $11 billion despite macroeconomic headwinds. Ethereum Leads Crypto Inflows. Source: CoinShares report “Ethereum leads with US$296.4 million in inflows, its strongest run since the US election, now representing 10.5% of total AuM,” read an excerpt in the report. CoinShares’s James Butterfill noted that the surge in demand for Ethereum comes despite a broader slowdown due to uncertainty around the US Federal Reserve (Fed) policy. Meanwhile, Ethereum’s rise coincides with the network’s Pectra upgrade on May 7, which enhanced user experience and smart contract efficiency. Ethereum has repeatedly led crypto inflows in the weeks since, attracting $1.5 billion over seven consecutive weeks. BeInCrypto reported that Ethereum notched inflows of $785 million during the week after the upgrade and $286 million the following week, contributing majorly to its momentum. Institutional demand is also evident in Ethereum ETF (exchange-traded funds) flows. As BeInCrypto highlighted, Ethereum ETFs recorded a 15-day streak of inflows as of the last trading session on June 6. $ETH ETFS > $BTC ETFs? Ethereum spot ETFs just clocked 15 straight days of inflows-$25M+ on June 6 alone. Past week:– $ETH ETFs: +$281M– $BTC ETFs: -$129M Since launch: $837.5M into ETH ETFs (~25% of all U.S. spot crypto ETF inflows). $1B next week? pic.twitter.com/DirWrxkToR —…
The post Ethereum Leads Crypto Inflows with $296 Million appeared on BitcoinEthereumNews.com.
The latest CoinShares report reveals that crypto inflows soared to $224 million last week. Meanwhile, Ethereum (ETH) continues solidifying its position as a frontrunner in institutional sentiment. The second-largest crypto by market cap continues to record positive returns, with fortunes turning since the Pectra Upgrade hit the mainnet on May 7. Ethereum Records Strongest Inflow Streak Since US Elections CoinShares’ latest report indicates that Ethereum posted $296.4 million in inflows last week, marking its strongest run since the November US elections. The inflows helped push total weekly crypto inflows to $224 million, extending the ongoing seven-week streak to $11 billion despite macroeconomic headwinds. Ethereum Leads Crypto Inflows. Source: CoinShares report “Ethereum leads with US$296.4 million in inflows, its strongest run since the US election, now representing 10.5% of total AuM,” read an excerpt in the report. CoinShares’s James Butterfill noted that the surge in demand for Ethereum comes despite a broader slowdown due to uncertainty around the US Federal Reserve (Fed) policy. Meanwhile, Ethereum’s rise coincides with the network’s Pectra upgrade on May 7, which enhanced user experience and smart contract efficiency. Ethereum has repeatedly led crypto inflows in the weeks since, attracting $1.5 billion over seven consecutive weeks. BeInCrypto reported that Ethereum notched inflows of $785 million during the week after the upgrade and $286 million the following week, contributing majorly to its momentum. Institutional demand is also evident in Ethereum ETF (exchange-traded funds) flows. As BeInCrypto highlighted, Ethereum ETFs recorded a 15-day streak of inflows as of the last trading session on June 6. $ETH ETFS > $BTC ETFs? Ethereum spot ETFs just clocked 15 straight days of inflows-$25M+ on June 6 alone. Past week:– $ETH ETFs: +$281M– $BTC ETFs: -$129M Since launch: $837.5M into ETH ETFs (~25% of all U.S. spot crypto ETF inflows). $1B next week? pic.twitter.com/DirWrxkToR —…
What's Your Reaction?
