**Crypto Market Sees Major Inflows with New Ether ETFs**

The launch of spot-based Ether (ETH) exchange-traded funds (ETFs) has sparked significant activity in the crypto market. According to CoinShares, these new ETFs have attracted a whopping $2.2 billion in inflows, marking one of the largest surges since December 2022.

However, this milestone comes amid $285 million in net outflows from existing funds, particularly Grayscale’s $1.5 billion trust.

Bitcoin (BTC) is also making waves, with $3.6 billion in inflows over the past month, pushing its year-to-date total to a record $19 billion. Analysts attribute this to speculation around the upcoming U.S. elections and potential Federal Reserve rate cuts.

The digital asset market continues to grow, with total assets under management hitting $99.1 billion. Total inflows for 2024 have reached a record $20.5 billion YTD, driven by the launch of Ether ETFs.

Despite the excitement, Grayscale’s Ethereum Trust ETF saw significant outflows, totaling $1.5 billion since the launch of the new Ether ETFs. Contrastingly, Grayscale’s Ethereum Mini Trust recorded a net inflow of $44.9 million on July 26.

Stay tuned as the crypto market evolves with these dynamic shifts!