Crypto fund inflows reach $533M, Bitcoin outperforms Ethereum: CoinShares
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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 continued inflows, Grayscale Ethereum Trust’s $118 million outflows offset the inflows. The outflows led to the negative flow rate of $36 million for Ethereum.
CoinShares also highlighted that the new Ethereum ETFs have enjoyed $3.1 billion in inflows since their launch a month ago.
Bitcoin and Ethereum have gained ground in terms of price in the last few days. Bitcoin has reclaimed the $64,000 level, while Ethereum has surged past $2,700. This positive momentum comes after several days of muted performance where Bitcoin struggled to sustain its price at the $60,000 level.
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Coins
$ 95.61K
-2.93%
$ 3.18K
-1.11%
$ 0.00...361
$ 0.00643
$ 33.38K
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In This News
Coins
$ 95.61K
-2.93%$ 3.18K
-1.11%$ 0.00...361
$ 0.00643
$ 33.38K
Share:
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Russian law enforcement to treat cryptocurrency as property
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Crypto fund inflows reach $533M, Bitcoin outperforms Ethereum: CoinShares
Share:
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 continued inflows, Grayscale Ethereum Trust’s $118 million outflows offset the inflows. The outflows led to the negative flow rate of $36 million for Ethereum.
CoinShares also highlighted that the new Ethereum ETFs have enjoyed $3.1 billion in inflows since their launch a month ago.
Bitcoin and Ethereum have gained ground in terms of price in the last few days. Bitcoin has reclaimed the $64,000 level, while Ethereum has surged past $2,700. This positive momentum comes after several days of muted performance where Bitcoin struggled to sustain its price at the $60,000 level.
In This News
Coins
$ 95.61K
-2.93%$ 3.18K
-1.11%$ 0.00...361
$ 0.00643
$ 33.38K
Share:
In This News
Coins
$ 95.61K
-2.93%$ 3.18K
-1.11%$ 0.00...361
$ 0.00643
$ 33.38K
Share:
Read More
Russian law enforcement to treat cryptocurrency as property