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.
Coinbase CEO Brian Armstrong has spotlighted a significant acceleration in institutional crypto adoption, driven largely by the surging popularity of exchange-traded funds and increased use of Coinbase Prime among major corporations.
Jefferies chief market strategist David Zervos believes an upcoming power shift at the Federal Reserve could benefit U.S. equity markets.
Anchorage Digital, a federally chartered crypto custody bank, is urging its institutional clients to move away from major stablecoins like USDC, Agora USD (AUSD), and Usual USD (USD0), recommending instead a shift to the Global Dollar (USDG) — a stablecoin issued by Paxos and backed by a consortium that includes Anchorage itself.
Ethereum co-founder Vitalik Buterin has voiced concerns over the rise of zero-knowledge (ZK) digital identity projects, specifically warning that systems like World — formerly Worldcoin and backed by OpenAI’s Sam Altman — could undermine pseudonymity in the digital world.