cryptocurrency investment: US ‘crypto week’ drives record inflows, volume for Ether funds
Synopsis
Ether ETFs experienced record inflows and trading volumes, fueled by advancements in crypto legislation endorsed by President Trump. Investors poured $727 million into these ETFs, with trading volume reaching $2.6 billion as Ether rallied. This surge in activity, coupled with rising open interest in Ether futures, signals growing institutional interest in the cryptocurrency.
US exchange-traded funds for Ether posted record inflows and trading volumes as key crypto legislation endorsed by President Donald Trump advances.
After a sluggish start to the year, investors on Wednesday poured $727 million into the group of nine ETFs, which also logged $2.6 billion in trading volume as Ether rallied. Open interest in Ether futures on CME Group also hit a fresh high, signaling mounting institutional demand for the second-largest cryptocurrency.
Midway through what’s been dubbed “Crypto Week” by a congressional committee, Republican conservatives on Wednesday dropped a two-day blockade of industry-backed crypto bills, paving the way for House votes on a series of measures backed by Trump.
Crypto Tracker
TOP COIN SETSNFT & Metaverse Tracker14.06% BuyWeb3 Tracker11.26% BuyCrypto Blue Chip – 510.20% BuyDeFi Tracker9.16% BuyAI Tracker7.24% BuyTOP COINS (₹) XRP311 (19.63%)BuyEthereum309,664 (8.38%)BuyBNB63,293 (3.98%)BuyBitcoin10,349,255 (2.11%)BuyTether86 (0.3%)BuyThe rally in Ether adds to the momentum for crypto bulls, who pounced after the November election on bets that the second Trump presidency would usher in a new era of permissive regulation.
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View Details »Broadly speaking, they’ve been rewarded: leading cryptocurrency Bitcoin romped to a record $123,205 on Monday.
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Ether, which has long lagged Bitcoin and closer rivals like Solana, rose as much as 2.6% to $3,469 in early London trading on Thursday, its highest level since January.
Bitcoin slipped 1.4% but continued to hold above $118,000.
