Ethereum ETF Launch Sparks Massive $2.2B Inflows!
Ethereum ETF Launch Sparks Massive $2.2B Inflows!
The launch of spot-based Ethereum ETFs in the US has ignited a remarkable $2.2 billion in inflows, according to a CoinShares report. This significant inflow marks one of the most substantial periods for Ethereum since December 2022. However, Grayscale’s Ethereum Trust faced a setback with $285 million in net outflows, slightly overshadowing the positive momentum.
🌐 Ethereum and Bitcoin on the Rise! 🌐
Not just Ethereum, but Bitcoin also witnessed a substantial surge with $3.6 billion in inflows over the past month, pushing its year-to-date total to an impressive $19 billion. This surge is largely driven by speculation about the upcoming US elections, potential Federal Reserve rate cuts, and renewed investor confidence.
📈 Digital Asset Market Expansion 📈
The digital asset market continues to grow, with total assets under management reaching an impressive $99.1 billion. Inflows for 2024 have hit a record $20.5 billion. Despite the success of the spot Ethereum ETFs, Grayscale’s Ethereum Trust ETF experienced significant outflows exceeding $1.5 billion. On a brighter note, Grayscale’s Ethereum Mini Trust recorded a net inflow of $44.9 million on July 26.
🚀 Key Takeaways:
- Ethereum ETF launch triggers $2.2 billion in inflows.
- Bitcoin sees a $3.6 billion surge in the past month.
- Total assets under management in the digital asset market hit $99.1 billion.
- Grayscale’s Ethereum Trust ETF faces $1.5 billion in outflows.
- Ethereum Mini Trust sees a positive net inflow of $44.9 million.
Stay tuned for more updates as the digital asset market evolves! 🌍🔗
- Follow US on LinkedIN