Cointime

Cointime

Download App
iOS & Android

Ethereum funds see record net inflows of $2.2B in 2024

Cointime Official

From cointelegraph by Alex O'Donnell

Ether ETH$3,577.08 investment funds have seen record net inflows of $2.2 billion in 2024, finally surpassing the cryptocurrency’s 2021 net inflow record of roughly $2 billion, according to CoinShares.

The record inflows reflect “a dramatic turnaround in sentiment” for ETH, according to CoinShares’ Dec. 2 weekly digital asset fund flows report.

Overall, cryptocurrency investment products saw net inflows totaling $270 million during the week starting Nov. 26, taking total inflows for the year to a new record of more than $37 billion, according to the data.

  Source: CoinShares

Early signs of altseason?

During the week of Nov. 26, investor interest seemed to swing from Bitcoin BTC$95,725 to ETH, based on CoinShares’s data.

Bitcoin saw outflows of $457 million — the cryptocurrency’s first significant outflows since September — while ETH saw inflows of $634 million during the same period, according to the report.

Hartmann Capital founder Felix Hartmann believes the pivot from BTC to ETH is a signal that Wall Street is “officially joining the fun” on the “alt rotation.”

“ETH ETF flows have flipped BTC ETF flows for the first time,” crypto commentator Ethereum Vibin said in an X post.

On Nov. 29, Cointelegraph reported that Ether exchange-traded funds (ETFs) saw more money from investors than their Bitcoin counterparts since Nov. 22 after Ethereum’s decentralized finance (DeFi) ecosystem scored a key victory in a United States court.

  Source: X

Related: Ripple’s XRP surges to 2024 high amid Trump win, stablecoin optimism

XRP’s rebound

Notably, XRP XRP$2.45 saw inflows of nearly $100 million, the largest ever, which CoinShares says is “due to hype surrounding the potential for a [exchange-traded fund].”

On Dec. 1, XRP surpassed Solana SOL$223.08 in market capitalization and has since flipped Tether’s USDt USDT$1.00 to become the third-largest crypto asset by market cap.

The native asset used by blockchain payments firm Ripple has surged to a new 2024 high as investors anticipate pro-crypto developments in the US under President-elect Donald Trump.

Investors are also early awaiting progress on Ripple’s dollar-pegged, overcollateralized stablecoin project, RLUSD.

Comments

All Comments

Recommended for you

  • Matrixport: Solana’s funding rate is currently as high as 70% annualized, and a price correction may occur

    According to a report, Matrixport has released a chart today stating that Grayscale has submitted an application to convert Solana Trust into a spot ETF. Although the current asset management scale of the product is relatively small at $134 million, if approved, it will set an important market precedent for other ETF issuers. It is important to note that Solana's financing rate is currently as high as 70% annualized, which creates significant pressure on leveraged long positions. Historical experience shows that similar high financing rates are often related to price corrections, as was the case in March of this year when the SOL-USDT price fell under similar financing rate backgrounds.

  • Japanese Prime Minister Shigeru Ishiba is cautious about separate taxation of cryptocurrencies and approval of ETFs

     Japanese Prime Minister Shizuo Shima expressed caution about the unified 20% separate taxation rule for cryptocurrency in a representative issue at a plenary session of the House of Representatives. "Is it appropriate to encourage investment in cryptocurrency such as stocks and investment trusts that have investor protection regulations? Will the public understand the idea of applying separate self-assessment taxation? There are several issues that need to be resolved. We need to consider it carefully." At the same time, "whether cryptocurrency should be included in ETFs depends on whether cryptocurrency is an asset that needs to be made more easily accessible to the public."

  • AI computing economy layer GAIB completes $5 million seed round of financing, led by Hack VC, Faction VC and Hashed

    GAIB, an AI computing economic layer, announced the completion of a $5 million seed round of financing, with Hack VC, Faction VC, and Hashed leading the investment. Other participating investors include Spartan, Animoca Brands, MH Ventures, Aethir, Near Foundation, Chris Yin from Plume Network, and Lucas Kozinski from Renzo Protocol.

  • Cadenza, an investment institution focusing on blockchain and AI, has raised $50 million for its early-stage AI venture capital fund

     Cadenza, a risk investment company focusing on blockchain and artificial intelligence, announced that its early AI venture capital fund has raised $50 million. The new fund will focus on seed and pre-seed investments, with a focus on infrastructure and enterprise applications. Cadenza's investment portfolio in the Web3 field currently includes: Web3 infrastructure Validation Cloud, Malaysian digital asset exchange Hata, Web3 API platform Uniblock, L1 blockchain Linera, and encrypted wallet application Zulu.

  • Union Completes $12 Million Series A Funding, Led by Gumi Cryptos Capital and Others

    cross-chain settlement layer Union has announced the completion of a $12 million Series A financing round, led by Gumi Cryptos Capital and Longhash Ventures, with participation from Borderless Capital and Blockchange, as well as blockchain founders from Polygon, Movement, and Berachain. The funding will be used for core team expansion, partner integration, and ecosystem development.

  • Russia sentences Hydra market founder to life in prison

     Stanislav Moiseev, founder of the online black market and cryptocurrency mixing service Hydra, has been sentenced to life imprisonment by a Russian court.

  • Portal Ventures raises oversubscribed $75 million crypto fund

    , Portal Ventures, a cryptocurrency venture capital fund before the seed round, raised a $75 million cryptocurrency fund with oversubscription, supported by Chris Dixon and Marc Andreessen.

  • VitalikButerin ·

    What I would love to see in a wallet

    One critical layer of the Ethereum infrastructure stack, often underappreciated by core L1 researchers and developers, is the wallet. Wallets are the window between a user and the Ethereum world, and a user only benefits from any decentralization, censorship resistance, security, privacy, or other properties that Ethereum and its applications offer to the extent that the wallet itself also has these properties.

    What I would love to see in a wallet
  • CointimeSG ·

    Ethereum’s North Star

    Does Ethereum lack a “North Star,” and does it need one? Most Solana folks clearly think so, pointing to the success of their clear vision for “decentralized NASDAQ.” Similarly, Bitcoiners have a clear vision for non-sovereign sound money (“digital gold”). Celestia has a clear vision for unstoppable apps.

    Ethereum’s North Star

  • South Korea's ruling party may ask Yoon Seok-yeol to quit the party and propose the resignation of the entire cabinet and the dismissal of the defense minister

    According to multiple media reports on December 4th, the ruling party of South Korea, the National Power Party, held an emergency meeting to discuss the measures to be taken after President Yoon Seok-yeol announced the lifting of martial law. Several attendees stated that they had reached a certain consensus on issues such as demanding Yoon Seok-yeol's resignation from the party, the resignation of the entire cabinet, and the dismissal of the Minister of Defense. Prior to this, Han Dong-hoon, a representative of the ruling party, stated that the president's decision to declare a state of emergency was wrong.

Daily Must-Read

Popular Activities

Delysium $AGI & AI Private Yacht Party

Delysium $AGI & AI Private Yacht Party

March 27 - March 27
Seoul

Popular Tags

Cointime
News
Contents
RSS
Company