Ethereum ($ETH) staged a sharp comeback last week, climbing to its highest level since January and confirming a golden cross on the daily chart. The move has coincided with a fresh wave of ETF inflows, with US spot Ethereum ETFs pulling in roughly $697 million over the week.
Ethereum ETF Inflows are Rising Amid a Risk-On Sentiment
American investors are boosting their Ethereum ETF purchases as a risk-on sentiment continues. SoSoValue data shows that these funds had $697 million in inflows last week, a big reversal after they lost $2.2 million in the previous week.
These funds have now added $939 million in inflows this month, much higher than the $365 million they added in July. That is a sign that institutional and retail investors have moved to an accumulation phase.
Spot Ethereum ETFs have had cumulative net inflows of $12.15 billion since their inception and now hold $14.2 billion in assets. BlackRock’s ETH holds the most assets with $7.8 billion. It is followed by funds by companies like Grayscale and Fidelity.
