Ether Investment Funds Achieve Record Inflows In 2024
AI Summary
According to Cointelegraph, Ether (ETH) investment funds have reached a milestone with net inflows of $2.2 billion in 2024, surpassing the previous record of approximately $2 billion set in 2021. This significant increase in inflows indicates a notable shift in investor sentiment towards ETH, as highlighted in CoinShares’ December 2 weekly digital asset fund flows report.
The overall cryptocurrency investment landscape has also seen substantial activity, with net inflows totaling $270 million during the week starting November 26. This brings the total inflows for the year to a new high of over $37 billion, based on CoinShares' data. During this period, there was a noticeable shift in investor interest from Bitcoin (BTC) to ETH. Bitcoin experienced outflows of $457 million, marking its first major outflows since September, while ETH recorded inflows of $634 million.
Felix Hartmann, founder of Hartmann Capital, interprets this shift from BTC to ETH as an indication that Wall Street is increasingly participating in the "alt rotation." This sentiment is echoed by crypto commentator Ethereum Vibin, who noted in a social media post that ETH ETF flows have surpassed BTC ETF flows for the first time. Cointelegraph also reported on November 29 that Ether exchange-traded funds (ETFs) have attracted more investor funds than Bitcoin ETFs since November 22, following a significant legal victory for Ethereum’s decentralized finance (DeFi) ecosystem in a United States court.$BTC