Ethereum has taken center stage as Bitcoin saw a massive influx of $2 billion, but Ethereum's net flows surged even higher.

Bitcoin & Ethereum Inflows

The digital asset investment landscape witnessed a significant surge as inflows into investment products totaled $2 billion last week. Bitcoin led the flows with a whopping $1.97 billion inflows, but Ethereum saw a significant spike, grabbing the spotlight.

Regional Breakdown

The United States dominated inflows, contributing $1.98 billion. This includes the third-largest daily inflow on record at the beginning of the week. The iShares Bitcoin ETF (IBIT) by BlackRock has now surpassed the Grayscale Bitcoin Trust, with $21 billion in assets under management (AuM).

Ethereum's Rise

Ethereum experienced its best week of inflows since March with a total of $69 million. This surge is likely a reaction to the SEC's unexpected decision to approve 19-b4s for Spot Ethereum ETFs. Moreover, the positive response from investors underscores Ethereum's growing appeal and the broader acceptance of its potential.

Altcoins

Altcoins saw relatively modest activity, with Fantom (FTM) and XRP standing out, according to CoinShares data. Fantom recorded inflows of $1.4 million, while XRP followed closely with $1.2 million. Furthermore, the speculations of a potential XRP ETF in the U.S. also catalyzed the recent surge in inflows.

CPI & PPI Data This Week

Crypto enthusiasts are closely monitoring key inflation data this week, with the U.S. Consumer Price Index (CPI) for May. The report is due on Wednesday, June 12. The CPI, along with the Core CPI, are vital indicators that reflect price changes and will provide a clear understanding of the current inflation scenario in the U.S.

Conclusion

Ethereum has stolen the spotlight as Bitcoin saw a massive influx of $2 billion, but Ethereum's net flows surged even higher. The upcoming CPI and PPI reports will be critical in shaping the Federal Reserve's future interest rate decisions.