Nearly $4 billion of new money flowed into digital assets last week, with the U.S. dominating 99% of the total haul. Investors are taking a cue from President Trump’s push to open retirement accounts up to alternative assets.
“My Administration will relieve the regulatory burdens and litigation risk that impede American workers’ retirement accounts from achieving the competitive returns and asset diversification necessary to secure a dignified, comfortable retirement,” read a portion of Trump’s executive order “Democratizing Access to Alternative Assets for 401(k) Investors,” signed in early August.
Ethereum ETPs (exchange-traded products), which give investors exposure to the crypto without holding it, attracted $2.87 billion in new assets last week, bringing the year-to-date inflows to a record $11 billion, as tracked by CoinShares.
Ethereum got an extra boost Friday, nearing the $4,8000 level after Federal Reserve Chairman Jerome Powell signaled a possible interest rate cut as early as September. It last hit a record $4,865.81 in November 2021.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BLK | BLACKROCK INC. | 1,148.17 | +23.42 | +2.08% |
| ETHA | ISHARES ETHEREUM TRUST NPV | 36.59 | +4.65 | +14.56% |
| IBIT | ISHARES BITCOIN TRUST – USD ACC | 66.25 | +2.56 | +4.02% |
BlackRock’s ETF arm, iShares, dominated the action, led by inflows into the Ethereum Trust ETF and its Bitcoin Trust ETF.
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Bitcoin, which is taking a backseat to ethereum, saw a $552 million boost, reversing two straight weeks of outflows. The largest cryptocurrency by market value is hovering around the $116,000 level, up 20% year-to-date but down from its record high of $124,495.51 reached on Aug. 14.
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Smaller cryptos, including Solana and XRP, saw inflows of $176.5 million and $125 million, respectively.
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Along with iShares, ProShares, Fidelity, 21Shares AG and Bitwise Funds Trust are leading annual inflows, CoinShares reported.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| CETH | 21SHARES CORE ETHEREUM ETF SHS | 24.16 | +3.07 | +14.56% |
| EETH | PROSHARES ETHER STRATEGY ETF – USD DIS | 84.09 | +10.82 | +14.77% |
| FETH | FIDELITY ETHEREUM FUND SHS | 48.40 | +6.21 | +14.72% |
| ETHW | BITWISE ETHEREUM ETF SHARES OF BENEFICIAL INTRES | 34.69 | +4.41 | +14.56% |
