Ethereum price remained inside a tight range thi

Ethereum eth-4.24%Ethereum dropped to a low of $2,400 this week as the crypto market crash continued. Its lowest level was down by 16% from its highest level this month, meaning it is in a technical correction.

SoSoValue data shows that spot Ethereum ETFs added $40 million in inflows this week, down from $528 million a week earlier. It was the smallest increase since the week of May 16.

There are two likely reasons for the significant drop in ETF inflows. First, these inflows slowed as investors remained in the sidelines as Bitcoin, Ethereum, and other cryptocurrencies dropped. 

Second, inflows slowed this week because it had four working days in the US. Markets were closed on Thursday, which was Juneteenth, a federal holiday.

On the positive side, Ethereum ETFs have had inflows in the last six consecutive weeks, the longest streak since their approval in September last year. The cumulative ETF inflows is $3.89 billion, bringing the total assets in these funds to $9.6 billion. 

BlackRock’s ETHA ETF had cumulative inflows of $5.28 billion, while Fidelity’s FETH has $1.1 billion.