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Home»ADOPTION NEWS»Digital Asset Fund Inflows Rebound with $436 Million, Bitcoin (BTC) Leading
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Digital Asset Fund Inflows Rebound with $436 Million, Bitcoin (BTC) Leading

By Crypto FlexsSeptember 16, 20242 Mins Read
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Digital Asset Fund Inflows Rebound with 6 Million, Bitcoin (BTC) Leading
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Terryl Dickey
16 Sep 2024 08:17

Digital asset investment products saw inflows of $436 million after $1.2 billion in outflows as markets anticipated a rate cut.





According to CoinShares, digital asset investment products have seen a notable rebound with $436 million inflows after a period of $1.2 billion in outflows. This rebound in investor interest is largely due to a significant change in market expectations for a 50 basis point rate cut expected on September 18.

Bitcoin (BTC) leads inflows

Bitcoin (BTC) was the biggest beneficiary, with $436 million inflows after experiencing 10 consecutive days of outflows of $1.18 billion. Short Bitcoin positions also reversed, with $8.5 million in outflows after three consecutive weeks of inflows.

Ethereum (ETH) faces ongoing challenges

Ethereum (ETH), on the other hand, continued to struggle, recording $19 million in outflows. This trend is believed to be driven by ongoing concerns about Layer 1 (L1) profitability.

Regional inflow and outflow

Regionally, the United States led the inflows with a total of $416 million. Switzerland and Germany also saw significant inflows of $27 million and $10.6 million, respectively. Canada, on the other hand, experienced a small outflow of $18 million.

Other notable exercises

Solana (SOL) has seen inflows for the fourth straight week, reaching $3.8 million. Blockchain stocks also showed positive trends, with $105 million inflows following the launch of several new ETFs in the US.

ETF trading volume was flat this week at $8 billion, significantly below the $14.2 billion average observed so far this year.

For more information, visit the CoinShares blog.

Image source: Shutterstock


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