Ethereum ETFs On Six-Day Win Streak

Ethereum (CRYPTO: $ETH) exchange-traded funds (ETFs) have rebounded and are on a six-day winning streak. 

Data from SoSoValue shows that the 10 U.S. spot Ethereum ETFs recorded $18 million U.S. of net inflows on April 16, led by BlackRock’s iShares Ethereum Trust ETF (NASDAQ: $ETHA).

The April 16 inflows marked the sixth consecutive trading day that Ethereum ETFs attracted more capital than they lost.

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Over the previous six trading sessions, Ethereum ETFs drew in nearly $300 million U.S. of capital from investors.

While the latest flows have been modest compared to the beginning of the year, when Ethereum ETFs attracted more than $100 million U.S. per day, they are nevertheless positive. 

Analysts say the current ETF inflows show that institutional investors are starting to accumulate the asset amid renewed confidence in cryptocurrencies.

Ethereum’s price is currently at $2,395 U.S. and close to breaking above the key resistance level of $2,400 U.S., which analysts see as another bullish sign for the digital asset.