Ethereum has seen the greatest advantage from the recent market downturn as investors appeared to have viewed the price weakness as a buying opportunity.
In fact, data suggests that Ethereum has managed to attract $155 million in inflows over the past week. According to CoinShares, the latest round of inflows boosted its year-to-date total inflows to $862 million, the highest since 2021, primarily fueled by the recent introduction of US spot-based ETFs.
Inflows Rebound
Besides Ethereum, the positive sentiment is evident for other crypto assets as well. Bitcoin, for one, saw a significant increase in inflows toward the end despite initial outflows at the start of the week, bringing the weekly total to $13 million.
On the other hand, short Bitcoin ETPs recorded their largest outflows since May 2023, totaling $16 million (23% of AuM), which has dropped their AuM for short positions to the year’s lowest level,…
