Ethereum Rebounds with $87M Inflows, Ends Losing Streak

The five-week decline in Ethereum has been halted, with ETH-related product inflows surging to $87 million last week.

As reported by Coinshares, this marks the first tangible inflow since early August, coinciding with a notable resurgence across digital asset investment products.

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

This increase is likely fueled by expectations of a more accommodative monetary policy in the US, resulting in positive price dynamics. Consequently, total assets under management (AuM) rose by 6.2% over the past week, bolstered further by the approval of options for certain US-based investment products.

Nonetheless, trading volumes did not mirror this positive trend, experiencing a slight decrease of 3.1% week-to-week.

Bitcoin garnered $1 billion in weekly inflows, which also prompted $8.8 million in inflows into short-BTC investment products. In contrast, Solana suffered $4.8 million in outflows.

Coinshares highlighted a divided sentiment among altcoins, with Litecoin and XRP receiving inflows of $2 million and $0.8 million respectively over the past week. In the same timeframe, Chainlink and Cardano attracted inflows of $0.4 million and $0.1 million, respectively, while BNB experienced outflows of $1.2 million.

Regional sentiment varied, as the US brought in $1.2 billion in inflows, with Switzerland following at $84 million, its highest since mid-2022. Canada and Australia noted minor weekly inflows of $1 million and $0.6 million, respectively.

Conversely, Germany and Brazil faced outflows of $21 million and $3 million. A similar pattern emerged in Sweden and Hong Kong, which reported outflows of $2.5 million and $1 million over the past week.