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The data shows that the money circulated in Ethereum Spot has seen weekly flows five times the last average, while bitcoin has seen a slowdown in momentum.
Ethereum Spot Etfs 154,000 ETH has seen this week’s flows
In new mail In X, Glassnode talked about analyzes about the latest trend in Netflow related to ETHEREUM Spot ETFS, based in the United States. “ETFS immediate” refers to investment vehicles that provide an alternative way to exposure to a specific asset.
This means that with an ETF location, the trader can originally “invest” without having to own it directly. In the context of encrypted currencies, this is especially important, as the investment funds circulated in traditional platforms. Some investors may not want to rotate with the exchange of digital and governor assets, so they provide them with a familiar investment funds in the encrypted currencies.
The option of investment funds circulating the instant funds is a relatively recent option in the sector, as the Bitcoin version obtained the approval of the US Securities and Stock Exchange Committee (SEC) at the beginning of 2024 and Ethereum in mid -2014.
Below is a scheme that shows how Netlows related to the Investment Funds Circular qualifiers looked at the end of the past month.
From the graph, it is clear that Ethereum US Spot ETFS has been witnessing net flows over the past few weeks, a sign of a demand for traditional investors.
“This week alone, they saw 154 kilometers in flows – 5X higher than the last weekly average,” Glassnode notes. “For context: the largest ETH flow for one day this month was 77 kar on June 11.”
Although the trend was the growth for Ethereum, it seemed a little more mixed when it comes to digital assets number one, Bitcoin.
As offered in the above chart, the Investment Funds in Bitcoin Us also witnessed positive NetLOFlows this week. However, the volume of flows was not an impressive, as about 7800 BTC entered into the circulating investment funds.
This is higher than average, but it is much lower than the altitudes that were seen in May, when the daily flow at some point reached 7900 BTC, more than the entire this week’s flows.
Last week, the investment funds circulated in Bitcoin Spot Netflow have seen explicit negative, so it seems that the momentum has been slower recently on the original. On the contrary, things look more green for Ethereum already.
ETH price
Although Ethereum has seen ETF fixed flows, its price is still weak against Bitcoin during the past day as it decreased to $ 2540, a decrease of 7 % compared to the BTC loss by 2 %.