As of September 14, 2023, the fund’s value has increased to $40.37, marking a +12.48% gain week-over-week, equivalent to a +$4.48 rise in dollar terms. T
Ethereum (ETH) played a key role in boosting market confidence during this week. Prices rose steadily as ETH reclaimed territory above the $1,600 mark, driven by both technical momentum and favorable sentiment. The asset appeared to be forming a solid base after a choppy late-summer period, suggesting that a more stable accumulation phase was underway.
Developers also continued to roll out improvements tied to Ethereum's post-Merge roadmap, further bolstering long-term investor confidence. Layer 2 scaling solutions like Arbitrum and Optimism gained traction, adding to the narrative that Ethereum’s ecosystem remained fundamentally strong.
The broader crypto market followed suit, with Bitcoin (BTC) making a move toward $26,500, recovering from recent lows. Altcoins such as Solana (SOL) and Avalanche (AVAX) also saw double-digit gains, benefitting from short-term oversold conditions and a brief return of risk appetite among traders.
Contributing to the upswing were positive macroeconomic signals, including lower-than-expected U.S. inflation figures for August, which eased fears of aggressive Federal Reserve interest rate hikes. Equity markets responded positively, and the crypto space mirrored that sentiment.