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According to a recent report from CoinShares, Ethereum (ETH) saw an uptick in inflows last week, surpassing Solana’s (SOL) inflows for 2024, coinciding with the impending launch of exchange-traded funds (ETFs) that will allow regulated investment in the US for the second-largest cryptocurrency by market capitalization.  ETH Dominates Inflows The report highlights Ethereum’s strong momentum recorded over the past month, with inflows reaching $45 million last week, amounting to the year for over $103 million, outpacing Solana’s inflows year-to-date (YTD).  Solana, however, also witnessed inflows of $9.6 million during the same period, resulting in a YTD total of $71 million, which lags behind Ethereum’s inflows. Among other altcoins, Litecoin was the only one to receive inflows exceeding $1 million, with $2.2 million recorded last week. Related Reading: US Spot Ethereum ETFs Poised To Draw $1.2 Billion Monthly: Research Firm The report also shows that general digital asset investment products saw continued buying, with inflows totaling $1.35 billion last week, bringing the three-week inflow streak to $3.2 billion, impacting the recovery in crypto prices in recent weeks.  Additionally, trading volumes of exchange-traded funds increased significantly by 45% week-on-week to $12.9 billion. However, these volumes represented only 22% of the broader crypto market volumes, indicating a relatively lower proportion. Bitcoin (BTC), on the other hand, recorded $1.27 million in inflows last week, while short-bitcoin ETPs observed outflows of $1.9 million. Notably, these outflows amounted to $44 million since March, representing 56% of the assets under management (AuM).  Ethereum Prepares For ETF Breakthrough The Securities and Exchange Commission (SEC) is expected to fully approve spot Ethereum ETFs today, paving the way for a second cryptocurrency investment vehicle in the US that could attract billions of dollars in retail and institutional investor cash. James Seyffart, Bloomberg ETF expert, noted: What are we expecting today for the Ethereum ETFs? We expect them to begin trading tomorrow. That means we should see a bunch of filings on SEC site today that say the ETFs’ prospectuses have gone “effective”. Likely after or around market close. Related Reading: Here’s Why The Bitcoin Price Crashed Below $66,000, Taking Shiba Inu And Dogecoin With It Ahead of this regulatory victory for the market following the approval of Bitcoin ETFs in January, industry experts are speculating that the SEC’s approval of Ethereum ETFs will significantly impact the Ethereum blockchain and its decentralized finance (DeFi) protocol.  Mark Connors, the head of global macro strategy at Onramp, a Dallas-based financial services firm, referred to Ethereum as the “middle kid protocol,” highlighting the crucial test that the ETF launch represents for the DeFi ecosystem.  According to Connors, the success and participation in the ETF launch on Tuesday will shed light on Ethereum’s ability to maintain its market standing and attract sustained interest, along with increased inflows and adoption, which could significantly impact its price. Despite being only a few hours away from the start of ETF trading, ETH is trading at $3,450, down 1.5% in the 24-hour time frame, supported by the $3,435 wall underneath the current price, which has prevented any further downward price action since Friday.  Featured image from DALL-E, chart from TradingView.com