Coinciding with 17% ETH’s weekly increase, the Ethereum ETFs saw their best-ever weekly inflows of $907 million.
With their highest weekly inflows since their debut last year, the Ethereum ETFs have had a historic week.
This occurred in the same week when the price of Ethereum recovered, rising more than 17% and hitting the $3,000 mark.
Ethereum ETFs See Record-High Inflows
According to data from SoSoValue, $907.99 million was invested in Ethereum ETFs in the last week alone.
Since they started trading on July 23, 2024, this was their highest weekly performance.
On July 10, these funds received $383.10 million, the most significant daily inflows this week.
In an X post, market analyst Nate Geraci commented on this trend, pointing out that these funds received almost $900 million this week.
He continued that three of the top ten inflow days are included in these inflows.
This week’s biggest inflow days were July 9 and July 11, when the ETFs saw net inflows of $211.32 million and $204.82 million, respectively, in addition to July 10.
This week’s milestone for Ethereum ETFs aligns with the price of ETH’s recovery.
CoinMarketCap statistics show that the altcoin has increased by more than 17% this week.
Due to this rise, Ethereum reached the psychological $3,000 mark on July 11 and appears poised to strike new highs.
Look At BlackRock’s ETH Fund
According to CoinGape, BlackRock now purchases more Ethereum for its cryptocurrency assets than Bitcoin.
This happened on July 10, when the biggest asset manager in the world bought $156 million worth of Ethereum and $125 million worth of Bitcoin.
The modification shows investors are becoming more interested in Ethereum’s use cases, such as staking earnings.
The price of ETH did not react right away, but the quantity of the coin would still be decreased by accumulation through the ETF.
Notably, on July 10, the BlackRock Ethereum ETF (ETHA) hit a new holdings milestone of $1 million.
It hit two million Ethereum holdings worth $300 million on that day.
In an X post, Bloomberg analyst Eric Balchunas wrote that ETHA had moved up to sixth place on the weekly flow leaderboard earlier in the week.
This is the first time the fund is “hanging with the big dogs,” he said.
The expert continued that the fund earning $675 million in a week is no laughing matter.
