Crypto ETF Inflows Surge Past $1.5T Amid Market Volatility
The crypto market has seen an uptick in ETF inflows over the last 24 hours, according to SoSo Value data. Bitcoin led the pack with $433.03 million in inflows, followed by Ethereum at $143.80 million. Solana and Zcash also recorded significant inflows of $47.62 million and $37.67 million, respectively.
Grayscale's recently launched Spot ZEC ETF has attracted notable investor interest, recording stronger inflows than many other altcoin ETFs in a short period. On the contrary, XRP saw outflows of around $43.70K, hinting at relatively weaker flows for the asset during this time.
Bloomberg's Senior ETF analyst Eric Balchunas praised the success of ETFs, stating that they have now surpassed last year's record flows of $1.5T with three and a half months to spare. He noted that ETFs are attracting more than $100 billion every month, equivalent to roughly $8.5 billion in flows per trading day.