‘Ethereum Stole the Show’: ETH Funds Trump Bitcoin ETF Gains

Investors saw a buying option last week Ethereumand threw more money at funds built around the second largest cryptocurrency than that for Bitcoin. Moreover, it is the first time this year that weekly deposits in Ethereum-based funds that have surpassed in BTC products.

Data from the European asset manager Coinshares shows that speculators pumped $ 793 million in Ethereum-related investment products worldwide last week.

Coinshares said that “Ethereum stole the show”, when investors saw a buying option after the price of the coin dropped to almost $ 2,100.

Some investors may be motivated by a tweet from Eric Trump, the son of President Donald Trump, who wrote last Monday“In my opinion it is a good time to add ETH. “The tweet earned around 13.6 million views. The original version of the tweet, which Trump edited, also recorded the sentence:” You can thank me later. “

ETH is now being traded for $ 2,670, Coingecko to show. Active has difficulty breaking into new highlights, despite the launch From new American ETH exchange funds last July. It currently trades 45% under the record price of November 2021 of $ 4,878.

In the meantime, Bitcoin has experienced huge amounts of new capital thanks to the spot ETFs that were approved a year ago. As a result, the prize of BTC has reached new records – especially after the election of Donald Trump in November. The new American leader has promised to help the digital assets industry.

Last week, however, Bitcoin-related funds received only $ 407 million in net inflow. President Trump’s threat of rates tore investors in most asset classes – and crypto was no different.

In the meantime, investors looked at top altcoins XRP And SolanaReally $ 21 million and $ 11 million, respectively throwing funds that provide exposure to the cryptocurrencies, Coinshares said.

ETH has had a pretty change in the sentiment of investors: last week, funds provide the coin received Net flows of zero.

Will a change in the heart of Crypto investors lead to new records for the coin itself? Or will this turn out to be a one-off accelerator, considering how dominant Bitcoin has been in the crypto ETF room? Stay informed.

Edited by Stacy Elliott