Crypto funds have achieved their most significant weekly gains since January, driven by massive capital inflows into Bitcoin and Ethereum exchange-traded funds (ETFs).
According to data from Decrypt, the surge in institutional interest in these spot ETFs has revitalized the broader digital asset market. Bitcoin prices recently climbed to $72,196, representing a 1.54% increase during the period.
Ethereum also saw positive momentum, with its price reaching $2,225.53, up 1.08%. These ETF-led movements have provided a much-needed lift to a market that had seen much flatter performance throughout the preceding months.
Market wide movement
While the primary drivers were the major ETFs, other large-cap assets also trended upward. BNB rose 2.20% to $604.83, and Solana gained 0.97% to reach $82.99.
Not all assets followed the upward trajectory of the majors. Polkadot saw a significant decline of 4.96%, dropping to $1.18, while Toncoin fell 2.43% to $1.42.
In the decentralized finance sector, Aave recorded a 4.67% increase, bringing its price to $94.84. Conversely, some assets experienced volatility, such as RAVE, which saw an extraordinary 152.57% spike to $12.68.
Stablecoins remained largely anchored to their pegs, with USDC and USDS showing negligible fluctuations. The influx of capital into Bitcoin and Ethereum ETFs suggests a concentrated period of institutional accumulation that is currently dictating the direction of the broader crypto ecosystem.
