Spot Ether ETFs Mark One of the Largest Inflows to the Asset Since December 2022

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.

Spot Ether ETFs brought in record inflows

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.

According to the latest CoinShares report, newly issued spot Ether (ETH) ETFs racked up a significant $2.2 billion in inflows alongside a 542% hike in ETH exchange-traded products (ETPs).

ETH $3,376

The new inflows milestone was tempered by $285 million in overall net outflows from Grayscale’s $1.5 billion Ethereum trust.

Bitcoin inflows persevering

Alongside ETH developments, Bitcoin (BTC) 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.

BTC $69,501

CoinShares analysts believe 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.

CoinShares also reported that total digital asset market assets under management grew to $99.1 billion. At the same time, digital asset investment product inflows for 2024 now stand at $20.5 billion YTD.

Grayscale's Ethereum Trust ETF outflows hit $1.5B

Grayscale’s newly converted Ethereum Trust ETF saw outflows of over $1.5 billion, with net outflows reaching $356 million in a single day.

Following the launch of spot Ether ETFs in the US on July 23, investors withdrew over $1.5 billion from the Grayscale Ethereum Trust ETF on July 26.

However, Grayscale's Ethereum Mini Trust (ETH) (ETH) Trustsaw a net inflow of $44.9 million on July 26.