In recent weeks, Bitcoin has shown signs of life, almost reaching $70,000 this morning. In our view, it is only a matter of time before we break through this psychological level.

Enough about Bitcoin. As promised in last week’s Crypto Moves #36, this Crypto Crisp will focus on Ethereum ETFs. The flow data for Thursday and Friday aligned with expectations: Grayscale’s primary Ethereum ETFs experienced extremely high outflows, while other Ethereum ETFs saw strong inflows to offset some of Grayscale’s outflows.

Our market view remains the same as outlined in Thursday’s Crypto Moves. We anticipate the worst of the Grayscale outflows to end as early as mid-week, followed by substantial inflows into other ETFs, driving the Ethereum price higher. This mirrors the pattern seen when Bitcoin ETFs were launched in January: initial declines followed by significant increases in both price and ETF net flow. History often provides a clear roadmap, and this is no exception.

Before diving deeper into Ethereum ETFs, let us review the three most influential stories from the past week.