Ethereum-based investment products saw a net inflow of $634 million last week, driven primarily by US spot ETFs. As a result, Ethereum funds hit a new annual high of $2.2 billion in net inflows, surpassing the $2 billion peak reached in 2021, much to the delight of crypto investors.
Ethereum investment products reach an annual record of $2.2 billion!
Investor sentiment towards Ethereum has seen a “dramatic turnaround,” with net inflows reaching $2.2 billion year-to-date, surpassing the previous record from 2021. For the first time, Ethereum has surpassed Bitcoin in terms of inflow at these high levels. Ethereum's performance reflects renewed interest from crypto investors, with a monthly gain of 47.15%, closing in on its ETF announcement peak of $4,095.
This remarkable performance is largely driven by the surge in U.S. Ethereum ETFs, which added $466.5 million during a reduced trading week due to the Thanksgiving holiday. Since their launch in July, these crypto products have attracted more than $1.1 billion in net inflows, despite a slow start.
Donald Trump, the savior of the crypto market?
Bernstein analysts pointed out that the likely approval of staking yields on these products by a crypto-friendly SEC under the “Trump 2.0” administration also contributed to this positive dynamic. The global cryptocurrency market has grown 72% since the US election, reaching a capitalization of $3 trillion, outpacing the growth of Bitcoin and ETH, suggesting early signs of an altseason.
In short, the year 2024 marks a turning point for Ethereum investment products with record inflows and renewed investor interest. This dynamic could well herald a new era for cryptos, with Ethereum leading the charge, even surpassing Bitcoin in terms of inflows.
Maximize your Tremplin.io experience with our 'Read to Earn' program! For every article you read, earn points and access exclusive rewards. Sign up now and start earning benefits.
