Bitcoin and Ethereum Dominate $3.3B Crypto Inflow Wave Amidst Rebound
Investor confidence in Bitcoin saw a powerful comeback as the asset drew $2.4 billion in inflows. This figure is its biggest weekly tally since July. Meanwhile, short-Bitcoin products lost ground, with outflows trimming their assets under management to $86 million.
Ethereum also benefited from the change in sentiment. After eight days of consistent withdrawals, it posted four straight days of inflows last week, which added up to $646 million.
Altcoins Join the Party
According to the latest edition of CoinShares’ Digital Asset Fund Flows Weekly Report, following weaker US macroeconomic figures, digital asset products shifted back to inflows and collected $3.3 billion last week. The rally in prices toward week’s end supported the climb in assets under management, which hit $239 billion. This level stands just below the all-time high of $244 billion recorded in early August.
In addition to Bitcoin and Ethereum, funds related to Solana also saw its largest-ever single-day inflow on Friday at $145 million, which contributed to a weekly total of $198 million. XRP and Sui also noted similar traction as they attracted $32.5 million and $14 million in inflows, respectively. Next up were Chainlink, Cardano, and Cronos, which registered $1.5 million, $1 million, and $0.3 million, respectively.
On the other hand, multi-asset products witnessed $1.1 million outflows similar to the previous week. Aave and Avalanche-based funds also saw minor outflows of $1.08 million and $0.66 million during the same period, respectively.
US Leads Crypto Surge With Record Inflows
Across regions, investor sentiment remained largely optimistic. The United States dominated the week by bringing in $3.2 billion in inflows. Germany followed with $160 million, including its second-largest daily intake on record on Friday. Canada added $14.1 million, while Brazil and Hong Kong contributed $5.4 million each, and Australia registered $2.4 million.
However, not all regions shared the bullish momentum. Despite the broader positive sentiment, Switzerland, for one, noted heavy outflows of over $92 million, as it offset some gains, while Sweden also posted $5.6 million in outflows.
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