Bitcoin leads with $543 million in inflows amid Powell’s Jackson Hole comments

Digital asset investment products attracted $533 million in inflows last week, the most in more than a month, after Jerome Powell hinted at the Jackson Hole Symposium that a rate cut could be coming ‘interest in September.

Although trading volumes were lower than in recent weeks, these products still totaled $9 billion over the past seven days.

According to CoinShares’ latest edition of the Weekly Digital Asset Fund Flows Report, Bitcoin dominated the market, generating $543 million in inflows. A significant portion of that figure was found to have occurred on Friday following Powell’s dovish remarks, which essentially highlighted Bitcoin’s sensitivity to interest rate expectations.

Short-Bitcoin ETFs also recorded $1.7 billion in weekly inflows, according to the European digital asset investment firm’s report.

Several altcoins also welcomed inflows during the same period. Litecoin, for example, attracted $0.5 million. XRP and Cardano followed suit with $0.3 million each. Meanwhile, Solana settled with $0.1 million in entries.

On the other hand, Ethereum experienced $36 million in outflows last week, although new issuers are still seeing inflows. However, the Grayscale Ethereum Trust bucked this trend with $118 million in withdrawals.

A month after the launch of the Ethereum ETF, the new ones have attracted $3.1 billion in inflows, which have been offset by $2.5 billion in outflows from the Grayscale Trust.

Most of the receipts were concentrated in the United States, which recorded $498 million, while Hong Kong and Switzerland were close behind with $16 million and $14 million.

Brazil, Canada, and Australia recorded receipts of $8 million, $5 million, and $2.5 million, respectively. Germany, however, had small outflows of $9 million, making it one of the few countries with net withdrawals since the year. Sweden’s take for the week was $1.2 million.

Additionally, inflows into blockchain stocks continued for the third consecutive week, reaching $4.8 million.

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