As of February 6, 2025, the fund’s value has declined to $5,826.35, marking a -4.28% drop week-over-week, equivalent to a -$260.48 decrease in dollar terms. After a period of relative stability, this decline signals a potential shift in sentiment, as uncertainty once again clouds the crypto landscape.
Ethereum (ETH) mirrored the broader market softness, hovering around the $2,300 mark but failing to break out of its consolidation range. Despite strong on-chain fundamentals and steady Layer 2 adoption, ETH faced headwinds from weakening trading volume and cautious sentiment in the wake of stagnant macro data.
Traders seemed to be waiting on stronger catalysts before committing to new positions. This lack of direction contributed to ETH’s modest pullback, reflecting the overall hesitation seen across most major altcoins.
Meanwhile, some speculative altcoins that had rallied in January began to retrace gains, contributing to a more cautious tone
Looking ahead, much will depend on February’s macroeconomic data releases, continued ETF inflow trends, and any surprises in the regulatory environment. For now, the fund remains on the defensive, eyeing both resilience and new opportunities in the weeks to come.