Ethereum

Boost

Solana

Bitcoin

<ul class="wp-block-list">
 <li>Bitcoin dominates inflows; Ethereum sees a fifth consecutive week of outflows.</li>
 <li>U.S. leads inflows; Germany, Sweden, and Canada face net outflows.</li>
</ul>
Digital asset investment products experienced net inflows of $321 million for the second consecutive week, according to CoinShares. The surge was largely attributed to the U.S. Federal Reserve’s decision to cut interest rates by 50 basis points (bps), which was viewed as a dovish move by the market. Total assets under management (AuM) rose by 9%, while weekly trading volumes also increased by 9% to $9.5 billion.
Bitcoin-based products led the inflows, attracting $284 million last week. However, the bullish sentiment surrounding Bitcoin also drove net inflows of $5.1 million into short-Bitcoin products. It reflects continued interest in hedging strategies.
Meanwhile, <a href="https://thenewscrypto.com/solana-faces-brief-selling-pressure-after-failing-to-clear-152-mark/" target="_blank" rel="noopener noreferrer nofollow">Solana</a>-based investment products maintained their positive streak, bringing in $3.2 million in net inflows, bolstered by announcements at the Solana Breakpoint conference in Singapore.&nbsp;
Conversely, Ethereum-based products registered net outflows of $29 million, marking the fifth consecutive week of outflows for the second-largest <a href="https://coinmarketcap.com/" target="_blank" rel="noopener noreferrer nofollow">cryptocurrency</a>.&nbsp;
<h3 class="wp-block-heading" id="h-behind-inflows-and-outflows">Behind Inflows And Outflows</h3>
The ongoing <a href="https://thenewscrypto.com/is-ethereum-poised-to-break-through-the-2-7k-barrier/" target="_blank" rel="noopener noreferrer nofollow">Ethereum</a> outflows were primarily linked to Grayscale’s Ethereum Trust, which has faced stiff competition from newly launched U.S. spot Ethereum ETFs. Since the trust’s inception in July, <a href="https://x.com/Grayscale" target="_blank" rel="noopener noreferrer nofollow">Grayscale</a> has recorded $2.8 billion in outflows, compared to $2.2 billion in inflows into the spot ETFs.
Regionally, U.S.-based investment products led the inflows, with $277 million added. It is followed by Switzerland, which saw $63 million in net inflows, the second-largest weekly inflows this year. In contrast, Germany, Sweden, and Canada experienced outflows of $9.5 million, $7.8 million, and $2.3 million, respectively.
The continued inflows into digital asset products signal renewed interest following recent market volatility, particularly in the wake of the Federal Reserve’s monetary policy shift. Investors are closely monitoring further developments to gauge the long-term impact on digital assets.
Highlighted News Of The Day
<a href="https://thenewscrypto.com/australia-eyes-stricter-licensing-for-crypto-to-boost-protection/" rel="noopener noreferrer nofollow">Australia Eyes Stricter Licensing for Crypto to Boost Protection</a>

Digital Asset Products See $321M Inflows Amid Fed Rate Cut

Table of Contents

TheNewsCrypto

Other articles published on Sep 23, 2024

Australia Eyes Stricter Licensing for Crypto to Boost Protection

BTC Miners Boost Earnings with Fractal Bitcoin: $495 per Block

Tether Faces Transparency Issues with its US Dollar Reserves: Report

Get Rich Quick? 6 Cryptos You Need to Buy in September 2024!

Clover Pool Launches Under New Branding to Enhance Mining Operations

BingX Exchange Hit by $26M Crypto Theft: Report

Join our free newsletter for daily crypto updates!