Ethereum Breaks Losing Streak with $87 Million Inflows: CoinShares

Ethereum has broken its five-week losing streak, with a notable influx of $87 million in ETH-based product inflows, according to CoinShares. This marks the first significant inflow since early August and coincides with a broader rebound in digital asset investment products. CoinShares’ weekly report indicates that digital asset investment products have experienced inflows for three consecutive weeks, totaling $1.2 billion. This surge is likely driven by expectations of a dovish monetary policy in the US and the resulting positive price momentum. The approval of options for certain US-based investment products has further bolstered sentiment. However, trading volumes did not reflect the same growth, experiencing a slight decline of 3.1% week-on-week. Bitcoin attracted $1 billion in weekly inflows, while short-BTC investment products saw $8.8 million in inflows. Solana, on the other hand, recorded $4.8 million in outflows. Altcoins showed mixed sentiment, with Litecoin and XRP receiving inflows of $2 million and $0.8 million, respectively. Chainlink and Cardano saw $0.4 million and $0.1 million in inflows, respectively, while BNB experienced outflows of $1.2 million. In terms of regional sentiment, the US attracted $1.2 billion in inflows, with Switzerland following closely with its highest inflow since mid-2022, at $84 million. Canada and Australia also saw minor weekly inflows of $1 million and $0.6 million, respectively. In contrast, Germany and Brazil posted outflows of $21 million and $3 million. Sweden and Hong Kong also observed outflows of $2.5 million and $1 million, respectively, over the past week.