Ethereum ETFs have made a historic milestone by recording their first-ever positive weekly flows. According to Arkham Intelligence, the net inflow for ETH ETFs reached an impressive 31,500 ETH, equivalent to $75.07 million, over the past week.
Leading the charge was BlackRock, one of the world’s largest asset management firms, which accumulated a staggering $168.55 million worth of ETH. The most notable daily on-chain inflow for BlackRock occurred on Aug. 7, when it received $108.02 million of ETH in a single day.
This positive trend in ETH ETF flows marks a shift in market sentiment towards Ethereum. Ethereum ETFs officially began trading in the U.S. in late July, marking a significant step in the increased integration of digital assets into mainstream finance.
Crypto analyst Michael Van de Poppe tweeted that this week’s positive net inflow of over $50 million could signal the start of a strong upward trend for the Ethereum ecosystem. Daily net inflows into U.S.-listed spot Ethereum ETFs reached $4.93 million on Monday, with Grayscale’s two funds experiencing no flows and Fidelity and Franklin Templeton seeing $3.98 million and $1 million in inflows, respectively.
Ethereum led the pack as digital asset investment products saw a total of $176 million in inflows over the last week, with investors viewing recent market weakness as an opportunity to buy. Ethereum profited the most from this trend, with inflows of $155 million last week and year-to-date inflows reaching $862 million, the biggest since 2021.
At the time of writing, ETH was down 1.02% in the last 24 hours to $2,645.
Source: https://u.today/ethereum-etfs-make-history-with-first-positive-weekly-flows