Ether ETFs Set Records as Crypto Products See $3.75B Inflows

Cryptocurrency investment products registered a third consecutive week of strong inflows last week, with Ether exchange-traded products (ETPs) heading the table.

CoinShares reported that global crypto ETPs saw $3.75 billion in inflows in the trading week through Friday, marking renewed investor demand.

The rise occurred as Ether (ETHUSD) advanced towards record-high levels near $4,700 last Thursday, according to data from CoinGecko.

However, following four successive days of inflows, sentiment changed on Friday when both Bitcoin (BTCUSD) and Ethereum (ETHUSDT) funds registered significant outflows, SoSoValue reports.

Bitcoin ETPs Record Modest Inflows Despite ATH

Though Bitcoin passed $124,000 last Wednesday, the inflows into its exchange-traded products were quite subdued at $552 million and only 15% of overall weekly inflows.

Conversely, Ether ETFs led the week, with $2.9 billion in inflows solidifying increasing institutional and retail demand for the altcoin's ETPs.

Other popular altcoins also experienced action: Solana (SOL) and XRP recorded inflows of $176.5 million and $125.9 million, respectively. Conversely, Litecoin (LTC) and Toncoin (TON) registered small outflows of $0.4 million and $1 million.

Record-Breaking Trading Volumes

Bloomberg ETF analyst Eric Balchunas showed that last week was the largest-ever trading volume for spot crypto ETFs. Over four trading days, Bitcoin and Ether ETFs collectively hit a combined $40 billion in volume, with Ether ETFs in the lead.

"ETHSANITY: Ether ETFs' weekly volume reached roughly $17 billion, smashing previous highs. July woke it up," Balchunas wrote on X.

Nate Geraci, NovaDius president, resonated with the sentiment, mentioning that spot Ether ETFs shattered all-time trading volume records. "Hope some of the 'no demand' naysayers are still around," he continued.

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