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Jerome Powell

Driven by positive market sentiment, crypto investment products saw their largest inflows in weeks, data from CoinShares shows. 
Crypto investment products attracted over $530 million in inflows last week, the highest in five weeks, as investors reacted to dovish signals from <a href="https://crypto.news/tag/federal-reserve/" target="_blank" rel="noreferrer noopener">Federal Reserve</a> Chair Jerome Powell at the Jackson Hole Symposium, according to a <a href="https://blog.coinshares.com/volume-197-digital-asset-fund-flows-weekly-report-2a165c7286a7" target="_blank" rel="">report</a> by CoinShares head of research James Butterfill. 
He noted that even though trading volumes were lower than in recent weeks, they “remained high, reaching $9 billion for the week” as Powell’s remarks, hinting at a potential interest rate cut as early as September, spurred significant market activity. 
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 Weekly crypto investment products’ flows | Source: <a href="https://blog.coinshares.com/volume-197-digital-asset-fund-flows-weekly-report-2a165c7286a7" target="_blank" rel="">CoinShares</a>
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 You might also like: <a href="https://crypto.news/heres-why-ethereum-etf-inflows-are-lagging-behind-bitcoin/"> Here’s why Ethereum ETF inflows are lagging behind Bitcoin </a> 
While the U.S. led the inflows with $498 million, Hong Kong and Switzerland also saw gains of $16 million and $14 million, respectively. Butterfill added that Germany bucked the trend with outflows totaling $9 million, leaving it as “one of the only countries with net outflows year-to-date.” 
Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noreferrer noopener">BTC</a>) was the primary beneficiary, with inflows of $543 million, underscoring its sensitivity to shifts in interest rate expectations, with the bulk of BTC inflows occurring on Friday, Aug. 23, immediately following Powell’s comments, Butterfill added. 
Although Ethereum (<a href="https://crypto.news/price/ethereum/" target="_blank" rel="noreferrer noopener">ETH</a>) saw contrasting movements with outflows of $36 million last week, new Ethereum ETFs have gained traction, attracting $3.1 billion in inflows over the past month, the CoinShares head of research says, noting that those inflows were “partially offset by outflows from the Grayscale Trust of $2.5 billion.” 
 Read more: <a href="https://crypto.news/grayscale-launches-crypto-investment-trusts-for-sui-and-tao/"> Grayscale launches crypto investment trusts for SUI and TAO </a>

Crypto investment products saw largest inflows in five weeks, CoinShares says

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