Ethereum Breaks Losing Streak With $87 Million Inflows: CoinShares

Ethereum’s five-week decline was reversed as ETH-based product flows surged to $87 million over the previous week.

According to Coinshares, this is the first measurable inflow since early August, and comes amid a significant recovery in digital asset investment products.

The latest edition of the European Asset Managers’ Weekly Report revealed that digital asset investment products recorded inflows for the third consecutive week, amounting to a total of $1.2 billion.

This rise is likely due to expectations of accommodative monetary policy in the United States and the resulting positive price dynamics. As a result, total assets under management (AuM) increased by 6.2% over the past week. This sentiment was further catapulted by the approval of options on 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 in inflows into short BTC investment products. Solana, on the other hand, saw capital outflows of $4.8 million.

Coinshares also noted that sentiment was mixed across 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 $0.4 million and $0.1 million in inflows, respectively. Meanwhile, BNB saw outflows of $1.2 million.

Regional sentiment was mixed, with the United States attracting $1.2 billion in inflows, followed by Switzerland with $84 million, its highest level since mid-2022. Canada and Australia also recorded minor weekly inflows of $1 million and $0.6 million, respectively.

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