Ethereum vehicles attract $36m after ETF greenlight 💸💸
Ethereum ETF approvals by the U.S. SEC improved investor sentiment around crypto’s second-largest assets, leading to a two-month high in net inflows.
Ethereum (ETH) investment products recorded $36 million in inflows last week for the first time since March, according to a CoinShares report on May 28. The increase in net inflows comes as the U.S. Securities and Exchange Commission (SEC) approved 19b-4 forms, signaling a greenlight for proposed rule changes allowing national exchanges to list spot ETH ETFs.
The approval news led to a 30% jump in Ethereum’s price over the week, pushing its market cap to $450 billion market cap and nearing a $4,000 per token. This sruge marked a positive sentiment shift after 10 weeks of bearish activity.
CoinShares analysts said the surge was likely an early reaction to approval news, but a continuation of the price uptrend remains unclear with actual spot ETH ETF trading still weeks away
