As a seasoned crypto investor with a decade of experience under my belt, I must admit that the recent surge in Ether (ETH) investment funds is nothing short of exhilarating. Having navigated through the 2017 bull run and the subsequent bear market, I can confidently say that these record net inflows of $2.2 billion in 2024 are a testament to Ethereum’s resilience and growing potential.
As a researcher, I’ve noticed an impressive milestone in the world of Ether (ETH) investment funds: they’ve reached a net inflow of approximately $2.2 billion in 2024, surpassing the cryptocurrency’s previous record set in 2021, which was around $2 billion, as reported by CoinShares.
According to the Weekly Digital Asset Fund Flows Report by CoinShares, the surge in ETH inflows indicates a significant change in investor attitude or opinion towards Ethereum.
During the week that started on November 26th, there were overall net investments worth approximately $270 million into cryptocurrency investment products. This weekly inflow brought the total annual investment up to over $37 billion, a new record high for the year.
Early signs of ‘Alt Season’?
During the week commencing November 26th, it appeared that investor attention shifted from Bitcoin (BTC) towards Ethereum (ETH), according to information provided by CoinShares.
During that timeframe, Bitcoin experienced a notable withdrawal of approximately 457 million dollars, marking its first substantial outflow since September, as indicated by the report. Meanwhile, Ethereum recorded inflows totaling 634 million dollars during the same duration.
Felix Hartmann, founder of Hartmann Capital, posits that the shift from Bitcoin (BTC) to Ethereum (ETH) indicates that the traditional financial sector, or “Wall Street,” is now actively participating in the rotation towards alternative cryptocurrencies, often referred to as altcoins. In other words, he suggests that Wall Street is getting more involved and enjoying the diversity of options in the crypto market beyond just Bitcoin.
For the first time, the flow of investments into ETH ETFs has surpassed that of Bitcoin ETFs, as noted by crypto analyst Ethereum Vibin in a recent post.
On November 29th, according to CryptoMoon’s report, the inflow of investment into Ether exchange-traded funds (ETFs) surpassed that of Bitcoin ETFs since November 22nd. This shift occurred following a significant win in a U.S. court for Ethereum’s decentralized finance (DeFi) ecosystem.
XRP’s rebound
Significantly, XRP (XRP) experienced a record-breaking influx of close to $100 million, primarily driven by anticipation for the possibility of an exchange-traded fund, as reported by CoinShares.
Starting on December 1st, XRP outranked Solana (SOL) in terms of market capitalization. Since then, it has even surpassed Tether’s USDt (USDT), moving into third place among cryptocurrencies with the largest market caps.
As a researcher, I’ve noticed an intriguing trend: The digital asset associated with Ripple, a leading blockchain payments company, has recently reached a fresh peak for the year 2024. This surge seems to be fueled by investor optimism surrounding potential pro-cryptocurrency developments in the United States under President-elect Donald Trump.
Investors are also early awaiting progress on Ripple’s dollar-pegged, overcollateralized stablecoin project, RLUSD.
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2024-12-02 21:21