Ethereum ETF Buys 15 Days in a Row, Accumulating $840 Million More

While investment organizations continue to accumulate ETH, profit-taking sentiment is still hindering Bitcoin ETFs. Ethereum ETFs have been buying for 15 consecutive days, accumulating an additional $840 million. Image: Decrypt Bitcoin ETFs just had an unsuccessful trading week with a net outflow of -$131.6 million. This is the second consecutive week that BTC ETFs have experienced outflow, following the -$144.8 million from the previous week. As previously reported, when Bitcoin set a new ATH near $112,000 in late May, Bitcoin ETFs also received massive buying pressure worth over $3.2 billion, clearly showing that this rally was significantly supported by large institutions. However, since then, the market has shown signs of slight adjustment, and trade war concerns have returned after Trump's administration's threatening moves towards China and the EU. Bitcoin's price was also somewhat affected, leading to localized profit-taking by some investment organizations. However, this is not the case with Ethereum ETFs, which have continued their inflow for 15 consecutive days - the longest streak since the November-December 2024 period. Despite recent macro fluctuations, ETH ETFs have maintained steady daily purchases of tens of millions of dollars, with total inflow in the past half-month reaching nearly $840 million, with nearly $600 million coming from BlackRock's ETHA fund. At the end of the trading session on 06/06 (US time), all 9 Ethereum ETFs were holding ETH worth $9.46 billion, with total inflow reaching $3.3 billion - meaning 25% of the total inflow occurred in just the past 3 weeks. Investors' sentiment towards ETH has become more optimistic since Ethereum deployed the Pectra upgrade in early May, with many updates addressing current limitations and paving the way for other important improvements. The excitement for ETH also stems from the SEC recently recognizing that Staking activities do not violate securities laws, a move that could potentially pave the way for ETH Staking ETF proposals. However, the SEC has not yet approved any Staking ETF proposals. Despite this, ETH's price remains sensitive to market changes, such as the conflict between Elon Musk and Donald Trump, which caused ETH to drop to the $2,400 range and unable to recover its losses, unlike Bitcoin.