The United States crypto exchange-traded fund (ETF) market has been in red-hot form in the past few weeks, with the Ethereum ETFs hitting new milestones every week. In its latest feat, the ETH-linked investment hit a new volume record alongside its Bitcoin counterpart.
According to Balchunas, the $40 billion figure is one often associated with the volume of a top five exchange-traded fund or a top 10 stock. However, the spot crypto ETFs have achieved a similar feat in terms of trading volume, thanks to the Ethereum exchange-traded funds stepping up.
The Bloomberg ETF expert disclosed that the US-based spot Ethereum ETFs did about $17 billion in trading volume in the past week. Balchunas acknowledged the change of fortune the Ether-linked products have witnessed in the past week, saying they “crammed one year’s worth of action into the past six weeks.”
However, this latest round of withdrawals was not enough to stop the ETH exchange-traded funds from recording their best weekly performance since launch in 2024, posting $2.85 billion net total inflow in the past week. This marks the 14th consecutive week of positive inflows for the Ethereum ETFs, with the funds particularly picking up in the last six weeks.
Meanwhile, the spot Bitcoin ETFs recorded a $128.53 million net outflow on Friday, breaking the funds’ seven-day inflow streak. According to market data, the BTC exchange-traded funds eventually registered a net total inflow of $547.82 in the past week.
As of this writing, the price of BTC stands at around $117,400, reflecting a 1% decline in the past 24 hours. Meanwhile, the ETH token is currently valued at around $4,420, reflecting a nearly 4% price decline in the past day.
