The latest Coinshares report reveals that crypto influx surged to $224 million last week. Meanwhile, Ethereum (ETH) continues to cement its position as the forefront of institutional sentiment.
The second largest crypto by market capitalization has been steadily changing its assets since the Pectra upgrade hit the mainnet on May 7th.
Ethereum has recorded the strongest influx streak since the US election
Coinshares’ latest report shows Ethereum recorded an influx of $296.4 million last week, marking its strongest run since the US election in November.
The influx has pushed the weekly crypto influx total to $224 million, extending the seven-straight week of ongoing to $11 billion despite macroeconomic headwinds.
“Ethereum is leading the way with an inflow of 296.4 million US dollars, the strongest run since the US election, accounting for 10.5% of AUM today,” read an excerpt from the report.
James Butterfill of Coinshares noted that the surge in demand for Ethereum comes despite a wider slowdown due to uncertainty over the US Federal Reserve policy.
Meanwhile, Ethereum’s Rise coincided with the network’s Pectra upgrade on May 7th, increasing the user experience and smart contract efficiency.
Ethereum led repeatedly to crypto influx in the following weeks, attracting $1.5 billion for seven consecutive weeks. Beincrypto reported it Ethereum Notched InfThe OWS, which was $785 million the week after the upgrade and $286 million the following week, contributed significantly to that momentum.
Institutional demand is also evident in the flow of Ethereum ETFs (exchange trade funds). As Beincrypto highlighted, Ethereum ETF recorded a 15-day inflow in its final trading session on June 6th.
This reflects the growing confidence in the long-term potential of ETH, following US Pectra upgrades and updated ETF optimism.
“Ethereum 2025 is in 2016. On steroids, there are the same integration, the same shakeout, the same reversal pattern. At the time, ETH rewrites the chart.
Bitcoin slips again as altcoin stays calm amid the uncertainty of macros
Ethereum surged, but Bitcoin recorded a second week outflow, cutting $56.5 million as investors remained cautious.
“Bitcoin was seen for the second consecutive week of a modest leak totaling $56.5 million, as investors kept investors on the sidelines. Short Bitcoin products have experienced two weeks of leaks,” added Coinshares Report.
Altcoin’s activity was largely suppressed. SUI (SUI) saw a modest inflow of $1.1 million, and XRP recorded a third consecutive week of outflow of $6.6 million. This suggests that sentiment remains mixed outside of Ethereum.
Despite a wider slowdown, Ethereum’s performance highlights the growing differences between key digital assets. The profits of its ETF and institutional benefits indicate that investors may be positioned to outperform Ethereum in post-rate hiking environments.
As Ethereum currently accounts for 10.5% of the total assets of digital assets, it appears that assets are regaining leadership status in the institutional eyes. Whether the trend will continue may depend on a signal from the Fed later on Wednesday.
Beincrypto data shows that Ethereum was trading at $2,528, an increase of 1.28% over the past 24 hours.
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