Ethereum

Solana

United

Bitcoin

Million

<ul> 
 <li aria-level="1">Bitcoin-based investment products led the market, attracting $284 million, showing strong institutional interest in the asset.</li> 
 <li aria-level="1">Solana attracted $3.2 million in inflows, while Ethereum funds faced their fifth consecutive week of outflows.</li> 
</ul> 
The global digital asset investment market has recently experienced a recovery, with crypto-based funds receiving $321 million in net inflows last week, as <a href="https://blog.coinshares.com/volume-201-digital-asset-fund-flows-weekly-report-ade44c188745">reported</a> by CoinShares. 
This marks a change from two consecutive weeks of outflows, suggesting a shift in investor sentiment. The U.S. Federal Reserve’s decision to cut interest rates played a role in this development, influencing the broader crypto market. 
<figure id="attachment_95338" aria-describedby="caption-attachment-95338" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="wp-image-95338 size-full" title="fed-rate-cut-sparks-321-million-inflows-is-this-the-start-of-a-bull-market" src="https://www.ethnews.com/wp-content/uploads/2024/09/coinshare.webp" alt="fed-rate-cut-sparks-321-million-inflows-is-this-the-start-of-a-bull-market" width="892" height="660">
 <figcaption id="caption-attachment-95338" class="wp-caption-text">
 Source: CoinShares
 </figcaption>
</figure> 
Bitcoin remains at the forefront of <a href="https://www.ethnews.com/fractal-bitcoin-surges-in-mining-rankings-see-how-its-outperforming-litecoin/">these inflows</a>, bringing in $284 million. This increase highlights the continued interest from institutional investors.&nbsp; 
However, there is still caution in the market, as short-Bitcoin products, designed to profit from a decrease in Bitcoin’s price, saw $5.1 million in inflows. This reflects an ongoing hedge against possible market fluctuations. 
Solana also saw growth, attracting $3.2 million in net inflows. While Bitcoin and Solana gained momentum, <a href="https://www.ethnews.com/ethereum-trading-volume-soars-79-what-does-this-mean-for-prices/">Ethereum-based</a> investment products recorded a fifth consecutive week of outflows. Ethereum’s products saw $29 million in outflows last week, contributing to a total of $187.7 million in outflows during this period. 
<figure id="attachment_95342" aria-describedby="caption-attachment-95342" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-95342" src="https://www.ethnews.com/wp-content/uploads/2024/09/Screenshot-2024-09-23-at-16.53.35.webp" alt="fed-rate-cut-sparks-321-million-inflows-is-this-the-start-of-a-bull-market" width="979" height="593">
 <figcaption id="caption-attachment-95342" class="wp-caption-text">
 Source: CoinShares
 </figcaption>
</figure> 
Regionally, the United States led the inflows, with $277 million coming from U.S.-based funds. Switzerland followed with $63 million in inflows, while countries such as Germany, Sweden, and Canada reported net outflows. This reflects varying investment trends in different regions. 
The recent surge in Bitcoin and <a href="https://www.ethnews.com/why-solanas-latest-user-growth-could-be-your-next-big-investment-opportunity/">Solana investments</a> is linked to changes in U.S. monetary policy. The Federal Open Market Committee’s (FOMC) decision to reduce interest rates by 50 basis points created a more favorable environment for risk assets, including cryptocurrencies. 

<div class="cryptoboxes" id="mcw-12344" data-realtime="on">
 <div class="mcw-chart mcw-chart-light" data-font="inherit" data-chartcoin="BTC" data-chartcurrency="USD" data-chartrate="1.000268" data-charttype="chart" data-chartview="day" data-charttheme="light" data-chartsmooth="true" data-chartareacolor="" data-chartbgcolor=""></div>
</div> 
As a result, Bitcoin’s price has risen above the $60,000 mark, currently trading at $62,775. Although there was a slight decrease of 1.1% over the past day, Bitcoin’s market capitalization has increased from $1.15 trillion to over $1.25 trillion, indicating sustained market interest and confidence. 
The post <a href="https://www.ethnews.com/fed-rate-cut-sparks-321-million-inflows-is-this-the-start-of-a-bull-market/">Fed Rate Cut Sparks $321 Million Inflows—Is This the Start of a Bull Market?</a> appeared first on <a href="https://www.ethnews.com">ETHNews</a>.

Fed Rate Cut Sparks $321 Million Inflows—Is This the Start of a Bull Market?

ETHNews

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