Investment products based on Ethereum recorded a net inflow of 634 million dollars last week, reaching a new annual record.
Record inflows into Ethereum investments
Net inflows into Ethereum products reached 2.2 billion dollars since the beginning of the year, surpassing the previous 2021 record. Ethereum has outperformed Bitcoin in terms of inflows at these levels.
Impact of Ethereum ETFs on the market
Ethereum's performance is driven by the rise of Ethereum ETFs in the United States. These crypto products have attracted over 1.1 billion dollars in net inflows since their launch in July, despite a slow start.
Role of political changes in crypto asset growth
Analysts at Bernstein highlighted the potential approval of staking returns under the new US administration as a significant factor. The global cryptocurrency market has increased by 72% since the US elections.
The year 2024 marks a pivotal moment for Ethereum investment products. Record inflows may herald a new era for cryptocurrencies, with Ethereum taking the lead.
