Ethereum News Today: Ethereum Drives $3.75B Crypto Inflows as ETF Demand Surges

Digital asset investment products experienced a record $3.75 billion in net inflows for the week ending August 13, according to the latest report. This marked the fourth-largest weekly inflow on record and pushed total assets under management (AuM) to a new high of $244 billion. The surge reflects a significant rebound in institutional interest in crypto markets after a prolonged period of subdued activity [1].

The inflows were highly concentrated, with iShares capturing the bulk of the flows through a single product. Ethereum was the dominant asset, attracting $2.87 billion in inflows—nearly 77% of the total—for the week. This brought its year-to-date inflows to an all-time high of $11 billion. Bitcoin, in comparison, drew $552 million, significantly lagging behind Ethereum’s performance [1].

The United States accounted for 99% of the total inflows, contributing $3.73 billion. Canada, Australia, and Hong Kong added smaller amounts, while Brazil and Sweden posted outflows of $10.6 million and $49.9 million, respectively. The geographic concentration highlights the U.S. as the primary driver of global crypto investment activity [1].

Other altcoins also saw varied inflows. Solana attracted $176.5 million, and XRP brought in $125.9 million. However, Litecoin and Ton both recorded small outflows, emphasizing the continued preference for large-cap digital assets [1].

Spot Ether ETFs hit an all-time high in trading volume, with $40 billion transacted over four days, including $17 billion in Ether ETF activity alone. Bloomberg ETF analyst Eric Balchunas described the performance as "ETHSANITY," noting that the volume "blew away the record" and suggested the market had been inactive for nearly a year before suddenly surging [1].

Nate Geraci, president of ETF firm NovaDius, echoed this sentiment, stating that spot Ether ETFs "absolutely obliterated" previous records. He questioned whether any remaining skeptics of crypto demand still existed [1].

In parallel, Grayscale is moving forward with its application to launch a Dogecoin ETF, with the ticker "GDOG" revealed in a recent SEC filing. The firm plans to convert its existing Dogecoin Trust into an ETF and has submitted listing documents to NYSE Arca [1].

The broader regulatory environment appears to be shifting, with multiple crypto ETF applications currently under review by the SEC, including proposals for funds tracking Solana and XRP. This marks a notable development in the evolving landscape of crypto investment products [1].

The $3.75 billion in inflows and the record AuM suggest a strong shift in institutional and retail investor sentiment toward digital assets. As Ethereum and other major cryptocurrencies continue to attract capital, the market may see further growth and consolidation in the coming months [1].

Source: [1] Crypto Investment Products Hit $3.75B Inflows, AuM Peaks at $244B (https://cryptonews.com/news/crypto-investment-products-hit-3-75b-inflows-aum-peaks-at-244b/)