Cryptocurrency investment products experienced a significant surge in inflows last week, totaling $3.75 billion, with Ether exchange-traded products (ETPs) leading the charge. This surge coincided with Ether's price nearing all-time highs, demonstrating strong investor appetite for the altcoin.

Key Takeaways

• Ether ETFs recorded their highest trading volume week ever, reaching approximately $17 billion.
• Total inflows into crypto investment products reached $3.75 billion for the week ending Friday.
• Ether ETPs accounted for the majority of inflows, attracting $2.9 billion.
• Bitcoin ETPs saw more modest inflows of $552 million, despite Bitcoin's price crossing $124,000.

Ether ETFs Dominate Inflows and Trading Volume

Last week marked a historic period for spot crypto exchange-traded funds (ETFs), with trading volumes reaching an unprecedented $40 billion within just four days. This record was largely propelled by Ether ETFs, which alone generated about $17 billion in weekly trading volume, a figure that significantly surpassed previous benchmarks. Analysts noted that this performance highlights a strong resurgence in investor interest for Ether.

Broader Crypto Market Trends

While Ether ETFs were the primary drivers, other cryptocurrencies also saw notable inflows. Solana (SOL) and XRP (XRP) attracted $176.5 million and $125.9 million, respectively. Conversely, Litecoin (LTC) and Toncoin (TON) experienced minor outflows of $0.4 million and $1 million.

Despite Bitcoin's price surge above $124,000, its ETPs only managed to attract $552 million in inflows, representing about 15% of the total weekly inflows. This contrasts sharply with Ether's dominant performance.

Shorter Inflow Streaks Observed

An interesting trend emerging is the shortening of consecutive inflow streaks for crypto funds. Spot Ether ETFs have seen an eight-day inflow run since August 5, accumulating $3.7 billion. In comparison, Bitcoin ETFs had a shorter seven-day inflow streak, generating approximately $1.3 billion. This pattern is a shift from longer streaks observed in previous months, such as Ether's 20-day streak in July and Bitcoin's 15-day streak in June.

Sources:

• Ether ETFs smash records as crypto products see $3.75B inflows
• Ether ETFs smash records with $17B weekly volume, outpacing Bitcoin in inflows
• Ether ETFs Break Records with $2.9 Billion Weekly Inflows
• Bitcoin Nears Record. It Could Soon Join Your 401(k)

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