Ethereum ETFs Draw In $124M in a Week Amid Bitcoin Outflows

Ethereum ETFs have seen significant inflows over the past day and week, according to data from @lookonchain. In the last 24 hours, these funds received a net influx of +3,947 ETH, valued at approximately $7.47M. This brings the total for the week to +65,941 ETH or around $124.71M in value.

This contrasts with Bitcoin ETFs, which saw outflows of -1,132 BTC, totaling -$72.24M over the same period. The trend is similar when looking at the 7-day timeframe, where Ethereum ETFs continue to attract investors while Bitcoin ETFs experience a decline in funds.

The price action on the 4-hour chart for ETH shows it currently testing resistance around $1893.9, with an upper limit of $1913.79. The RSI is at 49.48, indicating neutral momentum, but the MACD golden cross supports the continuation towards the EMA200 floor at $1850.08 once momentum builds.