The post Crypto fund inflows reach $533M, Bitcoin outperforms Ethereum: CoinShares appeared on BitcoinEthereumNews.com.

According to the latest CoinShares report, crypto investment products saw an inflow of $533 million last week. The figure posted for the week is the largest inflow recorded in the past five weeks. The week before, crypto financial products saw a muted inflow of $30 million, and the week prior recorded a $176 million inflow. Last week’s minimal inflow was primarily attributed to macroeconomic data indicating a rate cut in September. The CoinShares report mentioned that the latest inflow is the largest on record in the last five weeks. It also mentioned that it is a follow-up to Jerome Powell’s remark that September could witness the first interest rate cut. Crypto fund trading volume hit $9 billion The trading volume of crypto financial products hit a high of $9 billion in the last week. This is reportedly a comeback, as trading volume had plunged by 50% in the week prior. From a regional perspective, the United States recorded the majority with a $498 million inflow. This figure is also a notable comeback from the previous week’s $62 million inflow. Hong Kong and Switzerland also saw decent activity. CoinShares reported inflows hitting $16 million and $14 million for each country, respectively. Germany, on the other hand, experienced a minor outflow of $9 million, which also makes it the only country with net outflows year-to-date. Bitcoin enjoyed $543 million in inflows According to CoinShares, Bitcoin took the majority of the inflows home at $543 million. The majority of the inflows were also recorded on Friday after Powell’s dovish comments. In the week prior, CoinShares data showed that Bitcoin only had $42 million in inflow. Ethereum, which recorded a modest $4.2 million in inflows last time, took a U-turn with an outflow of $36 million. Even though new ETH ETF issuers were witnessing…

---

Filed under: News - @ August 26, 2024 12:20 pm