- Crypto funds have registered notable inflows.
- The products attracted funds after a period of outflows totaling $1.2 billion.
- Bitcoin dominated the inflows as Ethereum “continued to suffer.”
CoinShares reported Monday that global digital asset investment products attracted hundreds of millions last week after prolonged outflows totaling $1.2 billion.
Noting that the reversal trend was observed “towards the end of the week,” CoinShares Head of Research James Butterfill attributed the inflow resurgence to a significant shift in market expectations for a potential interest rate cut on September 18.
Crypto Funds See $436 Million Inflows
CoinShares said global crypto funds attracted $436 million from investors last week, with Bitcoin leading the charge after a 10-day outflow streak totaling $1.18 billion. The majority of the $436 million inflows into Bitcoin funds came from spot ETFs, which logged their highest inflow in almost two months on Friday, pulling $263 million.
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On the other hand, short-Bitcoin flows reversed, registering an outflow of $8.5 million following a three-week positive streak.
While funds tied to Solana witnessed their fourth week of inflows totaling $3.8 million, and blockchain equities attracted $105 million, Ethereum “continued to suffer,” logging millions in outflows.
“Ethereum continued to suffer, seeing US$19m in outflows, the only other asset alongside short-bitcoin, in what we believe is due to concerns over L1 profitability following Decun,” The report read.
Regionally, the U.S. topped the weekly inflows with $416 million as Switzerland and Germany pulled notable inflows of $27 million, and $10.6 million, respectively, while Canada-based funds bled $18 million.
Read about Delta Prime’s recent hack:
Delta Prime Loses $5.98M to Ongoing Attack on Admin Keys
Stay updated on the broader crypto market performance last week:
Crypto Market Shows Signs of Life, But One Coin Lags Behind
