In July, global gold exchange-traded funds (ETFs) saw their largest inflows since April 2022, according to a report by Ernest Hoffman for Kitco News.
Data from the World Gold Council (WGC) revealed that gold-backed ETFs attracted $3.7 billion in new investment, marking the third consecutive month of positive inflows.
North American gold ETFs saw inflows of $2 billion, reversing earlier outflows due to safe-haven demand amid political uncertainty and expected monetary easing by the U.S. Federal Reserve. However, year-to-date, North American ETFs have seen outflows of $2.9 billion.
European funds added $1.2 billion, driven by declining bond yields and expectations of further monetary easing by the European Central Bank and the Bank of England, bringing European ETF assets to $103 billion.
Asian gold ETFs, led by India, continued their streak of inflows with $3.6 billion in 2024, bringing total assets to a record $15 billion.
FTX is set to begin distributing $16 billion in assets to creditors starting in early Q4 2024.
The SEC has sought a four-month extension in its investigation related to Coinbase, pushing the deadline to February 2024, just after the US presidential election.
DZ Bank, Germany’s second-largest financial institution, has teamed up with Boerse Stuttgart Digital to offer cryptocurrency trading and custody services across its network of cooperative banks.
Charles Hoskinson, founder of Cardano, will meet with Argentina’s President Javier Milei in October to discuss blockchain’s role in shaping future economies.