Key Takeaways
- Ethereum inflows have more than quadrupled since the beginning of Nov.
- U.S. economic and political shifts appear to be driving bullish sentiment.
- Bitcoin ETFs pulled $1.67 billion in net inflows for the week ending Nov. 15.
Maintaining bullish momentum, digital asset inflows have continued to climb thanks to major political shifts in the U.S. political landscape and a second interest rate cut from the Federal Reserve.
With optimism in the air, billions are being poured into crypto, namely into Bitcoin and Ethereum exchange-traded funds (ETFs).
Crypto Asset Flows
According to Coinshares’ latest digital asset flows report, inflows totaled $2.2 billion last week. Inflows have hit a year-to-date (YTD) peak of $33.5 billion, and assets under management (AUM) have climbed to record highs of $138 billion.
Bitcoin ETFs dominated flows, with over $5.5 billion in total net inflows since the start of the month. Last week, flow rates saw some drop off as funds posted over $770 million in exits across a two-day outflow streak on Nov. 14 and 15.
Further rate cuts from the U.S. Federal Reserve and Donald Trump’s victory in the U.S. Presidential Election certainly gave markets a bullish boost.
But, with the Republican party now in control of both the Senate and the House of Representatives, markets are ambitiously hoping that the Trump administration can fulfill its many promises to Bitcoin.
ETH Surges
After a particularly sluggish year, Ethereum flows are beginning to reverse 2024’s underperformance, recording $646.3 million of inflows as of Nov. 16, 2024.
After posting $157 million in inflows the week prior, ETH’s recent inflow surge is largely bolstered by last week’s record-breaking Ethereum exchange-traded fund (ETF) winning streak, which captured $515.17 million in net inflows.
However, this hasn’t quite converted into significant short-term gains on par with Bitcoin and others. Despite being up 15.79% for the month, trading at around $3,060, ETH is still down some 50% from its all-time high of over $4,730.
Undoubtedly, there was also a trickle-down effect from Bitcoin ETFs’ overt multi-billion inflow success before and after the U.S. Presidential Elections. BlackRock’s BTC ETF soaked up most inflows and largely propped up ETH ETF markets.
That, and the promises of the “Beam Chain,” a proposal from one of Ethereum’s lead researchers, Justin Drake, who recently proposed a bold new roadmap for the Ethereum network.
Eddie is a gaming and crypto writer at CCN. Covering the often weird and wonderful world of Web3 with an adoring, but skeptical eye.
Prior to CCN, Eddie has spent the past seven years working his way through the crypto, finance, and technology industry. He began with PR and journalism with Bitcoin PR Buzz and BitcoinNews.com, eventually working his way to become a copywriter with a dozen firms, including the likes of Polkadot before returning to journalism in 2023.
Having studied Radio production and journalism at University in the UK, Eddie spent a few years making podcasts and presenting on a local London radio station as he built up his writing chops.
A lifelong skateboarder, Eddie can often be found at the skatepark or touring the streets looking for something new to try. That, or kicking back playing JRPGs on his original PSP.
