In a surprising twist, Ethereum witnessed a surge in investment for the second consecutive week, thanks to the recent approval of a spot-based ETF by the SEC, scheduled to launch in July 2024. This turnaround is particularly noteworthy considering Ethereum had experienced a downward trend, with a total outflow of $200 million over a span of 10 weeks. The positive sentiment surrounding Ethereum also had a ripple effect on other cryptocurrencies like Solana, which enjoyed a boost of $5.8 million in investment last week.
Other prominent cryptocurrencies, namely XRP, Cardano, Chainlink, and Litecoin, also experienced a surge in inflows. XRP attracted $800,000 in investment, Cardano received $300,000, Chainlink saw a rise of $1 million, and Litecoin garnered $600,000 in inflows.
