According to crypto asset firm CoinShares, crypto investment funds managed by BlackRock, Grayscale, Bitwise, Fidelity, ProShares, and 21Shares have recorded a net inflow of $436 million after two weeks of net outflows of $1.2 billion.
Bitcoin investment products saw a shift in trends, with net outflows of $8.5 million after three weeks of consistent inflows.
CoinShares noted that the United States market led the way, with spot Bitcoin exchange-traded funds (ETFs) generating $416 million in net inflows. Switzerland and Germany recorded $27 million and $10 million, respectively, while Canada-based products saw net outflows of $18 million.
“We believe the surge in inflows towards the end of the week was driven by a significant shift in market expectations for a potential 50 basis point interest rate cut on September 18th,” CoinShares Head of Research James Butterfill said.
Butterfill noted that the trading volumes in ETFs remained flat at $8 billion for the week, lower than the $14.2 billion average this year so far.
Bitcoin Investment Products Take the Lead
In the past week, the U.S. spot Bitcoin ETFs recorded their fifth consecutive day of positive flows, bringing in $39.42 million in inflows.
The inflows marked a shift in sentiment after a period of market turbulence driven by regulatory uncertainties and other significant factors.
With BlockRock’s IBIT, the largest spot Bitcoin ETF by net assets, recording approximately $8.35 million in net inflows, Franklin Templeton’s EZBC $3.55 million flow into the fund, and much more suggested that investors are starting to regain confidence in the crypto asset.
According to charting platform TradingView, the ratio between bitcoin and ether fell below 0.04 over the weekend, marking its lowest point since April 2021.
Ethereum Investment Products Record $19M Outflows
Ethereum, on the other hand, recorded $19 million in outflows and contributed $98 million in negative flows a week before.
Over the past week, the U.S. spot ETH ETF has also seen net outflows of $17.97 million.
