ETFs Awaken from Slumber: A Comedy of Digital Currency

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In a turn of events that would make a Jeeves and Wooster plot seem tame, US-based spot Bitcoin and Ether exchange-traded funds (ETFs) have just experienced what can only be described as their most triumphant week of trading volume to date, according to a rather excited ETF analyst, Eric Balchunas. 🎉

“Biggest week ever for them, thanks to Ether ETFs stepping up big,” Balchunas exclaimed in a post on Friday, as if announcing the winner of a particularly thrilling game of bridge.

Ether ETFs Were “Asleep” for 11 Months, Says Balchunas

It seems that the Ether ETFs had been taking a rather extended siesta, but oh, how they woke up in July! “Ether ETFs’ weekly volume was about $17b, blowing away records like a gale-force wind on a blustery day in Blandings Castle,” Balchunas marveled.

This awakening coincided with Bitcoin (BTC) reaching a new all-time high of $124,000 on Thursday, while Ether (ETH) came tantalizingly close to reclaiming its November 2021 high of $4,878, settling at a respectable $4,784-just 1.94% shy of glory, according to CoinMarketCap.

Since then, however, Bitcoin has taken a slight tumble, falling 5.52% from its peak to trade at $117,659, while Ether has similarly dipped 6.20%, trading at $4,486. But fear not, dear reader, for MN Trading Capital founder Michael van de Poppe assures us, “There’s way more to come for this cycle.” 🚀

Ether ETFs Take a Sharp Turn

Monday marked a historic day for spot Ether ETFs, recording their largest single-day net inflows ever, with a staggering $1.01 billion flowing into these funds. Over the first two weeks of August, spot Ether ETFs saw more than $3 billion in net inflows, marking their second-strongest monthly performance to date. 📈

Balchunas quipped that it was almost as if Ether ETFs had been “asleep” for the past 11 months and then decided to cram a year’s worth of activity into a mere six weeks. It’s as if they’d been waiting for the perfect moment to burst onto the scene, much like a character making a grand entrance at a society ball.

Initially, the launch of Ether ETFs in July 2024 was met with a yawn from Wall Street, leading to speculation that the financial world hadn’t quite figured out what to do with this digital darling. Meanwhile, Bitcoin ETFs, always the show-off, hit new highs of $73,679 a mere two months after their January 2024 debut.

Now, analysts are drawing parallels between Ether’s recent price surge and Bitcoin’s post-ETF rally. “This move is comparable to the BTC ETF launch, when Bitcoin continued to rally upward,” van de Poppe observed, adding, “The ETFs have a massive impact and there’s a lot to come for Altcoins.” 🌟

However, some analysts are cautioning investors to temper their enthusiasm. Nansen analyst Jake Kennis reminded us that a new all-time high for Ether might still be weeks or months away, despite ETH currently being only a few hundred dollars from a new record price. Patience, dear readers, patience. 🕊️

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2025-08-16 06:15