Ethereum Breaks Losing Streak with $87 Million Inflows: CoinShares – Crypto News – Crypto News
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Ethereum Breaks Losing Streak with $87 Million Inflows: CoinShares Ethereum Breaks Losing Streak with $87 Million Inflows: CoinShares

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Ethereum Breaks Losing Streak with $87 Million Inflows: CoinShares – Crypto News

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2 years ago

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Ethereum’s five-week decline has been reversed as ETH-based product inflows jumped to $87 million during the previous week.

According to Coinshares, this was the first measurable inflow since early August, and it comes amidst a significant revival across digital asset investment products.

The latest edition of the European asset manager weekly report revealed that digital asset investment products experienced inflows for the third consecutive week, amounting to a total of $1.2 billion.

This surge is likely driven by expectations of a dovish monetary policy in the US and the resulting positive price momentum. As a result, total assets under management (AuM) increased by 6.2% over the past week. The sentiment was further catapulted by the approval of options for certain US-based investment products.

However, despite these positive developments, trading volumes did not reflect the same growth and instead suffered a slight decline of 3.1% week-on-week.

Bitcoin attracted $1 billion in weekly inflows, which also encouraged $8.8 million worth of inflows into short-BTC investment products. Solana, on the other hand, witnessed $4.8 million in outflows.

Coinshares also noted that sentiment was divided among altcoins, with Litecoin and XRP receiving inflows of $2 million and $0.8 million over the past week. During the same period, Chainlink and Cardano settled with $0.4 million and $0.1 million in inflows, respectively. Meanwhile, BNB recorded outflows of $1.2 million.

Regional sentiment was mixed, as the US attracted $1.2 billion in inflows, and Switzerland followed with $84 million, its highest since mid-2022. Canada and Australia also witnessed minor weekly inflows of $1 million and $0.6 million, respectively.

In contrast, Germany and Brazil posted outflows of $21 million and $3 million. A similar trend was seen across Sweden and Hong Kong which reported $2.5 million and $1 million in outflows over the past week.

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