Global crypto investment products rebounded last week, recording $436 million in net inflows, according to CoinShares.
Global crypto investment products rebounded last week, recording $436 million in net inflows, according to CoinShares.
The surge in inflows was primarily driven by Bitcoin-based funds, which saw a reversal after experiencing a 10-day streak of net outflows totaling $1.2 billion.
However, Ethereum-based funds continued to struggle, registering $19 million in net outflows for the week. This marked the second consecutive week of negative flows for Ethereum products, adding to the $98 million in outflows the week prior.
The rebound in overall crypto investment product inflows was attributed to a shift in market expectations for a potential 50 basis point interest rate cut by the Federal Reserve on September 18, according to CoinShares Head of Research James Butterfill.
Despite the net inflows, trading volume for crypto investment products remained flat at $8 billion, well below the $14.2 billion average for 2024.
The U.S. market dominated the inflows, with spot Bitcoin exchange-traded funds accounting for $403.9 million in net weekly inflows. Switzerland and Germany-based funds also saw net inflows of $27 million and $10.6 million, respectively, while Canada-based products witnessed net outflows of $18 million.
Solana investment products were a bright spot, recording $3.8 million in net inflows for the fourth week in a row.
The ratio between Bitcoin and Ether dropped below 0.04 over the weekend for the first time since April 2021, according to data from TradingView, as Ethereum-based funds continued to struggle.
This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators.
This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice.
The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap.
