Everyone seems to be hating on Ethereum (ETH) right now, but investors have been buying this dip in a very big way this week, said CoinShares Head of Research James Butterfill, citing data from fund flows into crypto-oriented exchange-traded investment products in the last 24 hours.
As can be seen, $646.1 million were poured into those investment products focused on the major alternative cryptocurrency, Ethereum.
That is in stark contrast to the market’s performance last week, when Ethereum ETFs saw a net outflow of $300,000, but as Butterfill himself reported, suffered earlier in the week, likely due to its greater exposure to the technology sector, which in turn took a big hit amid all the DeepSeek hype and the U.S. AI market crash.
Back then, the price of Ethereum averaged around $3,000 and, what a surprise, its fall to as low as $2,200 prompted inventors to pour nearly $650 million into the altcoin-focused financial tools.
It was not with the endorsement of those close to the new U.S. administration, but that is another discussion. As it stands, ETF investors bought the Ethereum price dip over the course of the last day.
XRP continues to attract real money
Another alternative cryptocurrency attracting flows into its ETPs is XRP. The third-largest cryptocurrency is seeing continued appreciation from more traditional investors, rewarding them with price stability and support from Ripple executives, with talk of this coin making it into the U.S. Strategic Reserve as a full-fledged “Made in America” digital asset.
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Overnight, another $1.2 million flowed into XRP ETPs, bringing the year-to-date total to $106 million, making it the second top altcoin in terms of flows, according to CoinShares.
Whether the trend for Ethereum and XRP continues or the music stops there remains to be seen, but the numbers speak for themselves, and the demand is palpable.