rewrite this title US Ethereum ETFs Close Week With $460-M Performance As ETH Price Crosses $4,200 | Bitcoinist.com

The US-based Ethereum ETFs (exchange-traded funds) have had a mixed performance over the past week. The crypto-linked products continued a woeful start to the month of August with consecutive withdrawals at the beginning of this week.

However, US Ethereum ETFs haven’t taken much longer to turn their fortunes around and return to the path of positive inflows. This shift in investor sentiment can be associated with a recent executive order signed by United States President Donald Trump, allowing crypto investments in retirement (401 (k)) plans.

Four-Day Inflow Streak Changes Ethereum ETFs’ Week

According to the latest market data, the US Ethereum ETF market saw a total net inflow of $222.34 million on Friday, August 8. This positive performance for the crypto investment products confirmed a return of an optimistic sentiment amongst the US ETF investors.

SoSoValue data shows that BlackRock’s iShares Ethereum Trust (with the ticker ETHA) witnessed the largest influx on the day, adding $254.73 million in value on Friday. This round of inflows further stretches the fund’s dominance as the largest ETH ETF, with net assets of $12.35 billion under management.

Fidelity Ethereum Fund (FETH) and Grayscale Ethereum Mini Trust (ETH) followed ETHA, with $132.36 and $38.25 million total net inflow, respectively, on Friday. Grayscale ETH Trust (ETHE) is the only other Ethereum ETF with at least eight-figure capital inflows ($26.84 million) to close the week.

Bitwise’s exchange-traded fund (ETHW) and Invesco’s ETH fund (QETH) were the other Ethereum ETFs that posted a positive inflow day ($7.83 million and $1.22 million, respectively) on Friday. In contrast, the others recorded no significant activity on the day. This $222-million performance marked the fourth consecutive day of net inflows for the exchange-traded funds.

Source: SoSoValue

While the Ethereum ETFs registered massive investor withdrawals at the start of the week, totaling $465 million on Monday, August 4, the four-day inflow streak was enough to push the weekly record into positive territory. According to market data, the ETH exchange-traded funds saw $326.83 million in net inflows in the past week.

Ethereum Price Breaches $4,200

The strong relationship between the performance of the spot crypto ETFs and prices was on display again this week, as the ETH price reclaimed the $4,000 level while the Ethereum ETFs resumed capital inflows. This shift in momentum came on the back of Trump’s executive order on retirement plans. 

As of this writing, the price of ETH has surpassed $4,200, reflecting an almost 9% increase in the past 24 hours. Meanwhile, the altcoin is up by more than 21% in the last seven days.

The price of ETH on the daily timeframe | Source: ETHUSDT chart on TradingView

Featured image from iStock, chart from TradingView

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