After weeks of nonstop inflows, spot Ethereum ETFs just saw their biggest daily outflow ever. Probably just some TradFi whales taking profits. But zoom out, the last two months have still been the strongest ever for ETH ETFs. https://t.co/yplMnBCrGv
~$310B ADDED TO THE CRYPTO MARKET IN THE PAST WEEK
Total Crypto MarketCap approuching $4 trillion https://t.co/IrR2PNgIF1
The value of all cryptocurrencies climbed back above the US$4 trillion mark on 9 August, adding roughly US$310 billion over the past week and capping a rebound that has lifted prices across major tokens. Exchange-traded funds tracking the two largest digital assets were a key driver. Spot Ether ETFs absorbed about US$461 million of net inflows on 8 August, while spot Bitcoin products attracted US$404 million, extending Bitcoin funds’ streak of positive flows to three days. The combined haul was the largest single-day intake for the pair in several weeks. The renewed demand comes only days after Ether funds suffered a record US$465.1 million outflow on 4 August, led by BlackRock’s ETHA vehicle, according to SoSo Value data cited by CryptoSlate. Market participants said the quick swing from redemptions to subscriptions signals continuing institutional appetite even amid short-term profit-taking. Ether’s price has risen to its highest level since 2021 and Bitcoin has added almost 2% over the past 24 hours, reinforcing the broader risk-on tone. Analysts are watching whether the latest influx of capital—against a backdrop of US$7.4 trillion parked in money-market funds—will sustain enough momentum to push the market to fresh highs.