Ethereum prices declined in Friday’s trading as pressure weighed on most cryptocurrencies, with investors assessing the latest US inflation data and its implications for Federal Reserve interest rate decisions.

Government data released today showed that the US Personal Consumption Expenditures (PCE) index — the Fed’s preferred inflation gauge — rose sharply in July. Headline PCE increased by 0.2% on a monthly basis and 2.6% year-on-year, both in line with expectations. Core inflation also accelerated due to higher prices for some goods linked to import tariffs.

Traders increased their bets on a 25-basis-point Fed rate cut at the September policy meeting, with odds rising to around 89% from 85% before the data release, according to the CME FedWatch tool.

Ethereum exchange-traded funds (ETFs) in the US recorded strong inflows for the week, sharply outperforming Bitcoin ETFs and highlighting a notable shift in investor sentiment. Data from SoSoValue showed Ethereum ETFs attracted $1.83 billion in inflows between August 21–27, compared with just $171 million for Bitcoin ETFs.

Strong inflows for Ethereum ETFs

In the latest session, Ethereum ETFs posted net inflows of $307.2 million, compared with only $81.3 million for Bitcoin ETFs. The performance marks four straight days of positive flows into Ethereum funds, while Bitcoin funds continue to struggle to sustain momentum.

Since the start of August, Ethereum ETFs have attracted about $3.7 billion, while Bitcoin funds saw outflows exceeding $803 million, including withdrawals of $1.17 billion in a single week. Despite Ethereum’s smaller market capitalization compared with Bitcoin, its ETFs have drawn ten times more inflows in just five trading days.

Institutional momentum favors Ethereum

The strong inflows have coincided with a rally in Ethereum’s price, which recently approached its all-time high near $4,950. By contrast, Bitcoin is trading around $113,000 after briefly dipping to $109,000, posting a 5% monthly loss that has dented interest in its investment vehicles.

Institutional adoption has also tilted in Ethereum’s favor, with companies stepping up purchases while Bitcoin demand has slowed. Assets under management for Ethereum ETFs rose 58% over the past 30 days, compared with a 10.7% decline for Bitcoin funds during the same period.

This trend underscores a clear shift in the investment landscape: while Bitcoin ETFs previously dominated inflows, Ethereum funds are now gaining the upper hand, reflecting growing confidence in Ethereum’s growth potential and its appeal as a preferred institutional investment.

As of 21:09 GMT, Ethereum rose 2.7% to $4,329.1 on CoinMarketCap, though it remains down 10.6% for the week.

Nuclear batteries are not a new invention, but they lost their place in commercial use back in the 1970s, when they were employed in pacemakers. These batteries were an ideal solution for such medical devices thanks to their long life, but were eventually discontinued due to government concerns about the spread of radioactive isotopes without proper tracking or retrieval. Today, a new generation of scientists is working to bring the nuclear battery back—this time with far broader applications. And while the science behind these batteries is advancing faster than ever, the key question remains whether these innovations will actually reach commercial markets.

Contrary to what the term may suggest, nuclear batteries do not operate like miniature nuclear reactors. Instead, they generate power by capturing radiation released from the decay of small amounts of nuclear fuel, such as plutonium or isotopes of nickel and hydrogen. This radiation can then be converted into electricity through semiconductors or thermoelectric devices. Most importantly, such batteries can last for extremely long periods before needing replacement.

At present, the world relies on lithium-ion batteries, which provide enormous benefits thanks to their flexibility, energy density, and ability to operate in varied conditions. These advantages have made them nearly ubiquitous—powering around 70% of all rechargeable devices worldwide. Yet lithium-ion technology has significant drawbacks. Lithium extraction is environmentally harmful and water-intensive, while supply chains remain heavily concentrated under Chinese control, leaving them vulnerable to market shocks and geopolitical risks. On top of that, lithium-ion batteries degrade quickly and require very frequent recharging.

By contrast, nuclear batteries rarely need replacement, meaning they could power even the most remote and inaccessible locations. Tyler Bernstein, CEO of Zeno Power—a venture-backed nuclear battery startup that recently raised $50 million in a Series B round—said: “With intensifying competition among great powers, the ocean floor, the Arctic, and the lunar surface are the front lines of global security and economic progress—yet they remain energy deserts. With this funding round, we are on track to demonstrate full-scale systems by 2026 and deliver the first commercially manufactured nuclear batteries to power frontier environments by 2027.”

For these reasons, nuclear batteries have become the focus of a new wave of research and development. Instead of lasting weeks or months, a single nuclear battery could run for decades before depleting. A commercially viable nuclear battery could upend countless industries and technologies, becoming something of a “holy grail” for battery developers.

The “nuclear battery race” is now underway in labs around the world. Japan and South Korea have developed prototypes, China recently announced major breakthroughs, and research labs in the UK and the US have also reported significant progress. Each research team has pursued different approaches—some based on thermoelectric technology, others on semiconductors—while employing a range of isotopes including depleted uranium, carbon-14, and copper-63.

Despite many promising models, the biggest challenge is commercialization. IEEE Spectrum noted: “The technology works, it has many advantages over chemical batteries, and it can be used safely. What most companies have failed to do is find a new market for these batteries and create a product with impact.”

The potential applications are vast—from powering spacecraft and deep-sea exploration to enabling a mobile phone that never needs charging. But that does not mean commercialization will be straightforward. As IEEE Spectrum concluded: “The markets these batteries will penetrate—if they reach the commercial stage—will depend heavily on cost, safety, and licensing issues.”

US stock indexes declined during Friday’s session as investors assessed the Federal Reserve’s preferred inflation gauge.

Official data showed that the core Personal Consumption Expenditures (PCE) price index – which excludes food and energy and is the Fed’s preferred measure of inflation – rose 0.3% in July from the prior month and 2.9% year-on-year, its highest level since February, in line with expectations.

The headline PCE price index increased 2.6% year-on-year, unchanged from June’s pace, and 0.2% month-on-month.

According to the CME FedWatch tool, markets are now pricing in an 87.2% probability that the Federal Reserve will cut interest rates by 25 basis points in September.

On Wall Street, the Dow Jones Industrial Average fell 0.1% (49 points) to 45,587 by 14:47 GMT, while the broader S&P 500 declined 0.4% (27 points) to 6,474. The Nasdaq Composite dropped 0.8% (170 points) to 21,534.

Copper prices climbed to a five-week high on Friday and were on track to end August up 3%, supported by a weaker US dollar and growing bets that the Federal Reserve will cut interest rates in September.

The three-month copper contract on the London Metal Exchange rose 0.8% to $9,897.50 per metric ton by 10:11 GMT, after hitting $9,917 – its highest level since July 25.

The US dollar was set to post a 2% monthly decline in August. A weaker dollar makes dollar-priced metals more attractive to buyers using other currencies, while lower interest rates improve investor sentiment toward industrial metals that depend on economic growth for demand.

In China, the world’s largest consumer of metals, stocks closed higher on Friday, marking their strongest monthly performance since September 2024, with abundant liquidity continuing to fuel gains.

Shanghai Futures Exchange copper inventories fell 2.4% this week, while the Yangshan copper premium – reflecting demand for imported copper into China – held steady at $55 per ton, its highest level since June 5.

Still, factory activity in China likely contracted for a fifth straight month in August, according to a Reuters survey, as manufacturers await more clarity on a trade deal with the US, while weak labor markets and the property crisis weigh on domestic demand.

Goldman Sachs maintained its year-end forecast for copper on the LME at $9,700 per ton.

The bank said in a note: “While LME inventories remain relatively low, we do not see imminent risks of a global copper shortage.”

According to the International Copper Study Group (ICSG), the global refined copper market posted a surplus of 251,000 tons in the first half of 2025, compared with a surplus of 395,000 tons in the same period last year.

Other LME Metals Performance

Aluminum rose 0.3% to $2,613 per ton.

Zinc gained 1.1% to $2,812.

Lead added 0.2% to $1,987.50.

Tin advanced 1.0% to $35,140.

Nickel rose 0.7% to $15,365.