CoinShares reports that spot-based Ethereum ETFs are expected to attract $2.2 billion in investments. Meanwhile, Grayscale has experienced $285 million in net outflows.
The launch of spot-based Ether ETFs has resulted in one of the largest net inflows since December 2022.
CoinShares claims that fresh Ether ETFs attracted $2.2 billion and jumped 542% in ETH exchange-traded products. The net inflows were partially offset by $285 million in net outflows from Grayscale’s $1.
Stable Inflows Persist During Bitcoin’s Volatile Markets
In addition to ETH development, Bitcoin has attracted $3.6 billion in inflows in the last month and brought its YTD total to a record $19 billion.
According to CoinShares, analysts believe that the increase in Bitcoin inflows is due to expectations regarding the U.S. elections and the possibility of the world’s largest economy using BTC as a form of reserve currency. They also point to a revival of investor interest in Bitcoins, following the hope of a rate cut by the Federal Reserve in September.
The report reveals that the total digital assets under management are on the rise, with the market capitalization reaching $99.1 billion.
Total combined inflows for the year 2024 have been recorded at $20.5 billion year-to-date, with an all-time high trading volume recorded in May before the launch of Ether ETFs.
The report highlights that last week, DCF attained its highest revenues of $14.8 million. Ether ETFs led this, while overall investment products in the digital assets space saw only $245 million in inflows.
Grayscale Faces $1.5 Billion in Outflows
On July 26, Grayscale Ethereum Trust ETF (ETHE) experienced more than $1.5 billion, with daily net outflows going beyond $356 million. Since the beginning of spot Ether ETFs in the US on July 23, the ether equivalent of the Ethereum Trust ETF has seen redemptions exceeding $1.5 billion.
On the other hand, Grayscale’s Ethereum Mini Trust (ETH) had a net worth of $44.9 million on the same day during the peak of their campaign period.
