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Ethereum ETF Inflows Soar in July, Outpacing Last 11 Months Combined
July has been a remarkable month for Ethereum-based exchange-traded funds (ETFs), as data reveals that they have seen an unprecedented surge in inflows. The statistics show that these products have attracted a staggering $5.41 billion in net inflows during the month, surpassing the combined total of the previous 11 months.
The numbers are nothing short of astonishing, with Ethereum ETFs having now accumulated a colossal $9.62 billion in cumulative fund deposits since their inception in July 2024. The recent influx of capital has been nothing short of phenomenal, as the industry waits with bated breath to see if this momentum can continue and what it may mean for the cryptocurrency’s overall performance.
It is worth noting that this sudden interest is not without precedent. Despite a rocky start, with $483 million in outflows during their initial month, these funds have demonstrated steady growth. This growth accelerated in November 2024, when a whopping $1.05 billion flooded into the ETFs. The following month saw an even more substantial sum of $2.08 billion enter the fray.
The first quarter of this year was marked by relative caution, with only $161.23 million in new capital entering the funds during January and February combined. However, a lackluster performance in March led to a sizeable $403 million exodus from these products. Since then, investment activity has increased exponentially, ultimately resulting in this monumental influx of cash.
The implications of this massive influx are significant, as it suggests a shift away from institutional caution and towards aggressive accumulation. In light of these developments, Ethereum is now poised to potentially emerge as the central figure in an upcoming altcoin-led market cycle.
As of the time of writing, Ethereum’s price has climbed 3.1% over the past week and 19.6% during the preceding fortnight. It has also increased by a staggering 53.3% across the 30-day period, moving from approximately $2,470 to nearly touch the $3,900 range before re-adjusting slightly.
Source: cryptopotato.com
