2.2 Billion For Ethereum, A Yearly Record Driven By ETF

The investment products based on Ethereum recorded a net inflow of 634 million dollars last week, primarily due to American spot ETFs. As a result, Ethereum funds reached a new annual record of 2.2 billion dollars in net inflows, surpassing the peak of 2 billion dollars reached in 2021, to the delight of crypto investors.

Ethereum investment products reach an annual record of 2.2 billion dollars!

The sentiment of investors towards Ethereum has experienced a “spectacular turnaround,” with net inflows reaching 2.2 billion dollars since the beginning of the year, surpassing the previous record from 2021. For the first time, Ethereum has outperformed Bitcoin in terms of inflows at these high levels. The performance of Ethereum reflects a resurgence of interest from crypto investors, with a monthly gain of 47.15%, nearing its ETF announcement peak of 4,095 dollars.

This remarkable performance is largely due to the increase in Ethereum ETFs in the United States, which added 466.5 million dollars during a shortened trading week due to Thanksgiving holidays. Since their launch in July, these crypto products have attracted over 1.1 billion dollars in net inflows, despite a slow start.

Donald Trump, the savior of the crypto market?

Analysts at Bernstein pointed out that the likely approval of staking returns on these products by a crypto-friendly SEC under the “Trump 2.0” administration also contributed to this positive momentum. The global cryptocurrency market has increased by 72% since the American election, reaching a market capitalization of 3 trillion dollars, outpacing the growth of Bitcoin and ETH, suggesting the first signs of an altseason.

In summary, the year 2024 marks a turning point for Ethereum investment products with record inflows and renewed investor interest. This momentum could well herald a new era for cryptocurrencies, with Ethereum leading the way, even surpassing Bitcoin in terms of inflows.