Ethereum Breaks Losing Streak With $87M Inflows – CoinShares

Ethereum’s five-week slide has been reversed as inflows of ETH-based products surged to $87 million over the previous week.

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

The latest edition of the weekly European asset manager report revealed that digital asset investment products saw inflows for the third consecutive week, totaling $1.2 billion.

This increase is likely to be driven by expectations of accommodative monetary policy in the US and the resulting positive price momentum. As a result, total assets under management (AuM) increased by 6.2% over the past week. Sentiment was further catapulted by the approval of options for 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% weekly.

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, witnessed $4.8 million in outflows.

Coinshares also noted that sentiment was split between 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 with $0.4 million and $0.1 million in inflows, respectively. Meanwhile, BNB recorded outflows of $1.2 million.

Regional sentiment was mixed as the US attracted $1.2 billion in inflows, and Switzerland followed with $84 million, its highest since mid-2022. Canada and Australia also witnessed weekly inflows less than $1 million and $0.6 million, respectively.

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

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