Crypto ETFs See Biggest Weekly Inflow Since January

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Cryptocurrency exchange-traded funds (ETFs) recorded $1.4 billion U.S. of inflows over the past week, their biggest total since January of this year.

Bitcoin (CRYPTO: $BTC) and Ethereum (CRYPTO: $ETH) funds have now seen positive inflows for three consecutive weeks, according to data from CoinShares.

More than a dozen U.S.-listed Bitcoin and Ethereum ETFs now have combined assets under management (AUM) of $155 billion U.S. 

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ETFs that track the spot price of Bitcoin attracted the largest share of new money, with $1.12 billion U.S. of inflows last week.

Analysts say Bitcoin’s rise back to $75,000 U.S. per token has helped boost market sentiment towards the largest cryptocurrency. 

Meanwhile, Ethereum ETFs posted $328 million U.S. of inflows over the past week, their strongest weekly inflow since the start of the year. 

Funds tied to smaller cryptocurrencies have posted weaker results than either Bitcoin or Ethereum. 

The report said that XRP (CRYPTO: $XRP) and Solana (CRYPTO: $SOL) ETFs saw outflows of $56 million U.S. and $2.3 million U.S. respectively over the past week. 

Even so, analysts say the big picture for cryptocurrencies looks increasingly positive as weekly inflows into ETFs are now at their highest level in months.