Inflows To Ethereum Etfs Hit Three-Week High

(MENAFN- Yolo Wire) Inflows to exchange-traded funds (ETFS) that track the spot price of Ethereum (ETH) attracted $138.2 million U.S. in net inflows on March 17, a three-week high.

The last time spot Ethereum ETFs saw that big of an inflow was on Feb. 25, according to data from SoSoValue.

BlackRock's iShares Ethereum Trust ETF (ETHA) led the latest inflows with $81.7 million U.S. of capital entering the fund.

The asset manager's iShares Staked Ethereum Trust ETF (ETHB) saw an inflow of $67.2 million U.S. on the day.

The latest inflows extend the Ethereum ETFs inflow streak to six consecutive days during which they managed to pull in a total of $385 million U.S. from investors.

On a weekly basis, Ethereum ETFs have entered their fourth positive week, attracting nearly $440 million U.S. of investor capital.

Some analysts are saying that the inflows to Ethereum ETFs shows that sentiment towards cryptocurrencies is improving.

Tom Lee, chair of serial Ethereum acquirer Bitmine (NYSE: $BMNR), has gone so far as to call a market bottom for Ethereum after it fell to $2,150 U.S. on March 16.

Ethereum is currently trading at around $2,200 U.S. The second largest crypto has fallen more than 50% since hitting an all-time high of nearly $5,000 U.S. last August.

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