Ethereum

Million

Spot

According to a <a href="https://blog.coinshares.com/volume-193-digital-asset-fund-flows-weekly-report-beee6a750b13" rel="noopener noreferrer nofollow">report from CoinShares</a>, crypto investment products experienced a substantial influx of $245 million last week. However, this figure masks a varied performance across different digital assets.&nbsp;
James Butterfill, Head of Research at CoinShares also highlighted a surge in trading volumes since May, reaching $14.8 billion. Specifically, the surge was largely driven by the recent launch of Spot Ethereum (ETH) Exchange-Traded Funds&nbsp; (ETFs).&nbsp;
<h2 id="b-investors-diversify-their-portfolios-b">Investors Diversify Their Portfolios</h2>
Bitcoin-based investment products were not left out of the recent rally. Bitcoin enjoyed robust inflows of $519 million, pushing its month-to-date inflows to $3.6 billion and its year-to-date inflows to an unprecedented $19 billion. This demonstrates a continued strong investor interest in Bitcoin despite the broader market fluctuations.
Recall that the launch of spot-based Ethereum ETFs has attracted some of the largest inflows since December 2020. These newly issued ETFs garnered an impressive $2.2 billion in inflows, highlighting investor confidence in Ethereum’s potential. Concurrently, trading volumes in Ethereum Exchange-Traded Products (ETPs) soared by 542%, indicating heightened trading activity and interest in Ethereum-related products.
This mixed picture of digital assets reflects a dynamic and evolving market landscape. While Bitcoin remains a dominant force, the substantial interest in Ethereum ETFs points to a growing diversification within the digital asset investment space.&nbsp;
<h2 id="b-crypto-investment-products-sees-positive-sentiments-b">Crypto Investment Products Sees Positive Sentiments</h2>
Last week, <a href="https://thecoinrise.com/global-crypto-investment-products-sees-3-2b-consecutive-inflows/" rel="noopener noreferrer nofollow">crypto investment products attracted $1.35 billion in inflows</a>. Accordingly, these products have seen a three-week streak of inflows totaling $3.2 billion. Some of the asset managers contributing to these huge inflows of cash include BlackRock, Ark Investment, Fidelity Investment, and Grayscale Investment. Specifically, ETP volume increased by 45% week-over-week to $12.9 billion, representing 22% of broader crypto market volumes.
Interestingly, Bitcoin-based investment products were not left out of the rally, amassing $1.27 billion in inflows at the beginning of the month. However, short-Bitcoin ETPs recorded further outflows of $1.9 million, bringing outflows to $44 million since March. Notably, the Bitcoin inflows that came in were majorly from US Bitcoin ETFs.
<h2 id="b-spot-ether-etf-inflow-will-surpass-bitcoin-b">Spot Ether ETF Inflow Will Surpass Bitcoin</h2>
Matt Hougan, the Chief Investment Officer at asset management firm Bitwise, suggests that spot <a href="https://thecoinrise.com/bitwise-cio-predicts-ethereum-etf-inflows-will-push-price-to-5000/" rel="noopener noreferrer nofollow">Ether ETFs launch may affect Ether more than similar products affected Bitcoin.</a> This is because of the different market dynamics and Ethereum’s current development stage. Hougan also emphasized that Ether could outperform Bitcoin in the context of ETF inflows.&nbsp;
According to Hougan, the introduction of spot Ethereum ETFs is poised to significantly impact Ether’s market value, <a href="https://thecoinrise.com/bitwise-cio-unveils-9-tailwinds-for-ethereum-growth-in-h2-2024/" rel="noopener noreferrer nofollow">potentially driving it to unprecedented heights </a>exceeding $5,000. Recall that these spot Ether ETFs generated around $1.08 billion in cumulative trading volume on their first day. This impressive figure, though about 23% of what spot Bitcoin ETFs saw on their first day, <a href="https://thecoinrise.com/ether-etfs-debut-with-1-08b-in-trading-volume-attracts-106m-in-net-inflows/" rel="noopener noreferrer nofollow">signals a promising future for Ether ETFs</a>.
The post <a href="https://thecoinrise.com/global-crypto-investment-products-see-245-million-in-inflows/" rel="noopener noreferrer nofollow">Global Crypto Investment Products See $245 Million In Inflows</a> appeared first on <a href="https://thecoinrise.com" rel="noopener noreferrer nofollow">Latest News and Insights on Blockchain, Cryptocurrency, and Investing</a>.

Global Crypto Investment Products See $245 Million In Inflows

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