Ethereum slides under $4,150 and spot ETFs break eight-day positive inflow streak
The token touched $4,750 earlier this week.
After eight days of consecutive positive inflows totaling just under $2 billion, spot ethereum ETFs trading in the US broke the streak on Thursday, which saw $8.5 million leave the funds.
The roughly $39.3 million inflows from BlackRock’s iShares Ethereum Trust ETF were offset by outflows from five different spot ethereum ETFs, data from SoSoValue shows.
The outflows come as the price of the second-largest cryptocurrency is trading under $4,150 amid a broad market sell-off following a Truth Social post from President Trump threatening a “massive increase” of tariffs against China.
Meanwhile, ethereum treasury firms scooped up more tokens this week:
Bit Digital purchased 31,057 ethereum tokens, bringing the firm’s cumulative holdings to 150,244 tokens.
On-chain data shows BitMine Immersion Technologies added 23,823 ethereum tokens to its blockchain address, helping the company get closer to its goal of amassing 5% of the cryptocurrency’s total supply.
Cosmos Health Inc., which secured a $300 million financing facility to jumpstart a digital treasury reserve, announced on Friday that it acquired $500,000 worth of ethereum.
In other ethereum news, polygon, a blockchain network in the ethereum ecosystem, activated its upgrade focused on mainnet payments. The upgrade aims to make the network faster and more efficient through the use of a new block production architecture that enables roughly 5,000 transactions per second, according to a Wednesday blog post. Popular prediction markets platform Polymarket is built on polygon.
