Ethereum$ETH

ETFs Perform Better Than Expected in the Past Week
The feat was made possible as U.S.-based spot Ethereum ETFs recorded their highest weekly inflows since early August, reversing a six-week streak of negative outflows. According to SoSoValue data, U.S.-based spot ETH ETFs saw $58.7 million in inflows on Friday, contributing to a total of $84.5 million in net positive inflows for the week. This was the first week of positive inflows since early August. The largest portion of Friday’s inflows came from Fidelity’s FETH fund, with $42.5 million. BlackRock’s ETHA fund also drew attention by surpassing $1 billion in net asset value, becoming the second spot Ethereum ETF to achieve this feat after Grayscale’s Ethereum Mini Trust.

The ETF Store President Nate Geraci emphasized the importance of this success, stating that BlackRock’s ETHA fund ranks in the top 20% of more than 3,700 ETFs in the US market. Other ETFs also recorded significant inflows on Friday, including Bitwise’s ETHW at $5.4 million, Invesco’s QETH at $4.3 million, Grayscale’s ETH at $2.3 million, VanEck’s ETHV at $2 million, and 21Shares’ CETH at $1.4 million. Meanwhile, Franklin’s EZET fund saw no net inflow or outflow, while Grayscale’s ETHE fund saw an outflow of $10.7 million.

This surge in inflows led to three out of five trading days last week resulting in positive net inflows for ETH funds. The funds currently have a combined net asset value of $7.4 billion, the highest since August 26.

This increase in value is linked to Ethereum’s price outperforming Bitcoin following the recent Fed rate cut. There has also been a significant increase in transaction fees due to increased blockchain activity, as well as renewed optimism about Ethereum among futures traders.