Crypto funds have seen $176 million in inflows over the past seven days, with ETH products leading the gains, closely followed by the U.S. spot Ethereum ETF.

Crypto funds attracted $176 million in net inflows over the past seven days as Ethereum ETFs increased in number and market momentum strengthened. ETH ETFs saw positive net inflows for the first time since their launch, driving the rise of digital asset funds. With the approval of funds, traditional investors continue to enter the digital asset market.

Ethereum ETF drives $176 million in inflows into crypto funds

Crypto products saw $176 million in inflows last week, with Ethereum leading the way driven by ETF momentum. According to CoinShares weekly fund flows, investors viewed last week's price drop as a good buying opportunity to increase market exposure. Bitcoin saw outflows at the beginning of the week before reversing course to bring weekly net inflows to $13 million.

In a reversal of recent movement following the approval of a Bitcoin spot ETF, the asset took a backseat to Ethereum and multi-asset products. As the Ethereum ETF turned positive, ETH-based products took the top spot with $155.4 million in inflows.

“Ethereum has benefited the most from the recent market correction, attracting $155 million in inflows last week. This brings its year-to-date inflows to $862 million, the highest level so far in 2021, driven primarily by the recent launch of U.S. spot ETFs.”



Meanwhile, BTC shorts saw $16 million in outflows over the past seven days, the largest outflow since May 2023, taking a toll on short positions’ assets under management (AUM). This year, total AUM stands at $84.9 billion, with crypto funds holding over $22 billion. Recent inflows into Ethereum ETFs also push the monthly figure above rival assets.

Are Investors Moving Towards Altcoins?

Recent market activity shows an increase in investor interest in altcoins after the market rebounded after the last drop. While users saw buying opportunities, most altcoin inflows were tapping into spot Ethereum ETFs. In general, crypto ETFs lead to an increase in traditional investments in the market. The current market scenario is that BTC is facing significant selling pressure in the spot market, while ETH is showing moderate buying pressure. However, the perpetual market is showing selling pressure as activity increases. Crypto funds recorded inflows in multiple jurisdictions last week.

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