Ethereum ETFs Attract $2.2B Inflows: CoinShares
According to the latest CoinShares report, the newly issued spot Ethereum ETFs have pulled up a significant $2.2 billion in inflows alongside a 542% hike in ETH (ETH-X) exchange-traded products.
The new inflows milestone was tempered by $285 million in overall net outflows from Grayscale’s $1.5 billion Ethereum trust. Alongside ETH developments, Bitcoin (BITCOMP) also has attracted $3.6 billion in inflows over the past month, contributing to a year-to-date total of $19 billion. The surge is likely driven by speculation surrounding the upcoming US elections and the potential for BTC to become a strategic reserve asset.
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