Ethereum ETPs On Fire: Will ETF Momentum Break Resistance?
Among cryptocurrency-based investment products, Ether-based products saw the largest inflows last week. This happened even though investor activity generally slowed as markets awaited the US Federal Reserve’s clarification.
Last week, Ether exchange-traded products (ETPs) saw inflows totaling $296 million. CoinShares reported on June 9 that this was their best week since US President Donald Trump was elected in 2024. Currently, more than 10.5% of all crypto-based ETPs’ total assets under management (AUM) are Ether-based investment products. According to CoinShares’ analysis, this was the ninth week in a row that Ether ETP inflows have occurred, and investor sentiment has significantly improved.
ETH is likely to range between $2,400–$2,800, with trade tensions and deflationary pressures limiting gains. Network upgrades and ETF inflows could support a push toward $2,700, though a broader market sell-off may test $2,300 support,
Ryan Lee, chief analyst at Bitget Research
Bitcoin Funds Bleed $56M as Fed Rate Uncertainty Rattles Investors
Weekly inflows totaling $286 million across all digital asset investment products brought the seven-week total to above $11 billion. Nevertheless, $56 million was taken out of Bitcoin funds, marking the second consecutive week of net losses. CoinShares ascribed the slowing in Bitcoin inflows to investor nervousness ahead of the Federal Open Market Committee’s (FOMC) next interest rate announcement on June 18. According to the research, investors have taken a wait-and-see approach in anticipation of additional inflation-related signals from the US Federal Reserve.
No Rate Hike Expected: Will Bitcoin Explode to $150K?
According to the most recent projections from the CME Group’s FedWatch tool, markets are presently pricing in a 99.9% chance that the Fed will maintain interest rates at the upcoming FOMC meeting. According to Alice Li, investment partner and head of US at cryptocurrency venture capital firm Foresight Ventures, the first interest rate decrease of the year might be the next driver for the price of Bitcoin.
I’m a strong believer in Bitcoin and the crypto market. So I think Bitcoin could go to at least $150,000 in this cycle,
Li
For more up-to-date crypto news, you can follow Crypto Data Space.
