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The launch of spot Ether exchange-traded funds (ETFs) in the United States has marked one of the largest inflows to the asset since December 2022.
<a href="https://etp.coinshares.com/knowledge/market-activity/fund-flows-29-07-24" target="_blank" rel="noopener nofollow">According</a> to the latest CoinShares report, newly issued spot Ether (<a href="https://cointelegraph.com/ethereum-price">ETH</a>) ETFs, includingracked up a significant $2.2 billion in inflows alongside a 542% hike in ETH exchange-traded products (ETPs).
The new inflows milestone was tempered by $285 million in overall net outflows from Grayscale’s $1.5 billion Ethereum trust.
Related: <a href="https://cointelegraph.com/news/blackrock-warns-crypto-etf-scams">BlackRock imposters target crypto ETF investors</a>
<h2 data-ct-non-breakable="true" id="bitcoin-inflows-persevering">Bitcoin inflows persevering</h2>
Alongside ETH developments, Bitcoin (<a href="https://cointelegraph.com/bitcoin-price">BTC</a>) has attracted $3.6 billion in inflows over the past month, contributing to a year-to-date (YTD) total of $19 billion — a historic high.
According to CoinShares analysts, the firm believes the surge is driven by speculation surrounding the upcoming US elections and the potential for BTC to become a strategic reserve asset.
The analysts also attribute this to renewing investor confidence in BTC, given the expectations of a Federal Reserve rate cut in September.
Related: <a href="https://cointelegraph.com/news/grayscale-ethereum-trust-etf-historic-1-5-billion-outflow">Grayscale Ethereum Trust ETF net outflows hit $1.5B</a>
<h2 data-ct-non-breakable="true" id="market-trends-and-statistics">Market trends and statistics</h2>
The report reveals that the digital asset market continues to grow, with total assets under management reaching $99.1 billion.
Total inflows for 2024 have reached a record-breaking $20.5 billion YTD as trading volumes across all digital assets rose to an all-time high in May in anticipation of Ether&nbsp;ETFs.
The report highlights that this record was broken on the week of July 22, totaling $14.8 billion, largely fueled by the launch of the Ether ETFs, despite digital asset investment products seeing only $245 million in inflows.
Related: <a href="https://cointelegraph.com/news/bitflyer-acquires-ftx-japan-launch-crypto-etfs">bitFlyer acquires FTX Japan, plans to launch crypto ETFs</a>
<h2 data-ct-non-breakable="true" id="grayscale-outflows-hit-1-5-billion">Grayscale outflows hit $1.5 billion</h2>
On July 26, theGrayscale Ethereum Trust ETF&nbsp;<a href="https://cointelegraph.com/news/grayscale-ethereum-trust-etf-historic-1-5-billion-outflow">outflows reached over $1.5 billion</a>, with net outflows topping $356 million in a single day.
The newly converted Ethereum Trust ETF witnessed investors withdraw over $1.5 billion since the spot Ether ETFs launched in the US on July 23.
Contrastingly, Grayscale’s Ethereum Mini Trust ETH (ETH) performed well, recording a net inflow of $44.9 million on July 26.
Magazine: <a href="https://cointelegraph.com/magazine/thorchain-founder-jp-thor-vampire-attack-defi/">THORChain founder and his plan to ‘vampire attack’ all of DeFi</a>
Update (July 29, 11:30pm UTC): This article has been updated to clarify the $2.2 billion of inflows includes seed money.

Ethereum ETF launch drives $2.2B inflows — CoinShares

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