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The introduction of Ethereum ETFs in the US has led to an impressive $2.2 billion in inflows, showcasing strong investor interest.
Spot Ether ETFs Drive $2.2B Inflows
A major influx of capital into the asset since December 2022 occurred with the introduction of spot Ethereum exchange-traded funds (ETFs) in the US.
There was a 542% increase in the number of ETH ETPs, and newly issued spot Ether ETFs received $2.2 billion in inflows, according to the most recent report from CoinShares.
Despite the new inflows milestone, Grayscale's $1.5 billion Ethereum trust saw $285 million in net outflows.
Bitcoin Inflows Match ETH Trends
Contributing to a historic high of $19 billion for the year so far, Bitcoin has drawn $3.6 billion in inflows over the past month, coinciding with ETH trends.
A number of factors, including anticipation of the US presidential election and talk of Bitcoin's potential role as a reserve asset, are propelling the price increase, say analysts at CoinShares.
The analysts also think that this is because investors are getting back into Bitcoin since they are expecting the Federal Reserve to decrease interest rates in September.
Cointelegraph reports that with a total of $99.1 billion in assets under management, the research shows that the digital asset sector is still expanding.
In May, in anticipation of Ether ETFs, trading volumes across all digital assets reached an all-time high, increasing total inflows for 2024 to a record-breaking $20.5 billion YTD.
Even though digital asset investment products only received $245 million in inflows, the record was surpassed on July 22 with a total of $14.8 billion, driven mostly by the launch of the Ether ETFs, according to the research.
Grayscale Ethereum Trust Outflows
Net withdrawals from the Grayscale Ethereum Trust ETF surpassed $356 million on July 26, bringing the total outflows to above $1.5 billion.
Over $1.5 billion has been withdrew by investors from the newly converted Ethereum Trust ETF since the US launch of the spot Ether ETFs on July 23.
On the other hand, with a net inflow of $44.9 million on July 26, Grayscale's Ethereum Mini Trust ETH (ETH) did really well.
