The post Digital Asset Fund Flows Surge Amid FED Rate Cut appeared on BitcoinEthereumNews.com.

Rebeca Moen Sep 24, 2024 06:14 Digital asset inflows hit $321 million following a 50bp rate cut by the Federal Reserve, according to CoinShares. Digital asset investment products experienced significant inflows, totaling US$321 million, following a 50 basis point interest rate cut by the Federal Reserve, according to CoinShares. This marks the second consecutive week of inflows for digital assets. Bitcoin Leads Inflows Bitcoin (BTC) was the primary beneficiary of these inflows, attracting US$284 million. However, the recent price moves also led to inflows into short-bitcoin investment products, which saw US$5.1 million in investments. Mixed Regional Inflows From a regional perspective, the United States led the inflows with US$277 million. Switzerland followed with the second-largest weekly inflows of the year, totaling US$63 million. In contrast, Germany, Sweden, and Canada experienced outflows of US$9.5 million, US$7.8 million, and US$2.3 million, respectively. Ethereum Continues to Lag Ethereum (ETH) remains an outlier, seeing outflows for the fifth consecutive week, totaling US$29 million. This is largely attributed to persistent outflows from the incumbent Grayscale Trust and limited inflows from newly issued ETFs. Despite this, Solana investment products continued to see modest but consistent weekly inflows, amounting to US$3.2 million last week. The overall assets under management (AuM) saw a 9% growth, with total investment product volumes reaching US$9.5 billion, up 9% from the previous week. For more detailed information, visit the full report on CoinShares. Image source: Shutterstock Source: https://blockchain.news/news/digital-asset-fund-flows-surge-amid-fed-rate-cut

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Filed under: News - @ September 24, 2024 6:25 am