Digital Asset Inflows Rebound to $436M Amid Interest Rate Cut Anticipation
This wk, digital asset invstmnt products sw positiv shift, s rportd by CoinShrs ltst Digital Asset Fund Flows Wkly Rport. Following rcnt outflows totling $1.2 billion, th mrkt wlcomd inflows of $436 million. Jms Buttrfill, hd of rsrch t CoinShrs, linkd this chng to xpcttions bout potntil 50 bsis point intrst rt cut by th Fdrl Rsrv on Sptmbr 18.
Th optimistic outlook ws fuld by commnts from Willim Dudly, formr prsidnt of th Fdrl Rsrv Bnk of Nw York. Spking t th Futur of Finnc Forum in Singpor, Dudly dvoctd for mor substntil rt cut du to wkning U.S. job mrkt. H strssd tht mploymnt risks now outwigh infltion concrns, supporting his rcommndtion for th rduction.
Dspit n ovrll positiv inflow, ETF trding volums rmind flt t $8 billion for th wk. This figur flls short of th yr-to-dt vrg of $14.2 billion
In th dtils, Fidlity/USA ETFs stood out with lding $218 million wkly inflow. Othr notbl prformrs includ ARK 21 Shrs/USA, which hd $83 million in wkly inflows, whil Bitwis ETFs/USA nd ProShrs ETFs/USA contributd $67 million nd $58 million, rspctivly.
Convrsly, Gryscl Invstmnts LLC suffrd significnt outflows, losing $69 million ovr th wk. iShrs ETFs/USA nd 21Shrs AG hd minor outflows of $1 million ch, whil CoinShrs XBT sw $5 million outflow for th sm priod.
Bitcoin Dominates Digital Asset Inflows
Flow by digital assets highlights Bitcoins dominnc, with inflows totling $436 million. Notbly, short-bitcoin flows rvrsd cours, xprincing outflows of $8.5 million ftr thr conscutiv wks of inflows.
Ethrum, howvr, continud to struggl, fcing $19 million in outflows. This could b ttributd to ongoing concrns surrounding th profitbility of Lyr 1 blockchins following th Dcun incidnt. On brightr not, Soln njoyd its fourth conscutiv wk of inflows, totling US$3.8 million.
Multi-sst invstmnts lso sw positiv inflows of $22.8 million, whil ltcoins lik Crdno nd Litcoin displyd smllr but positiv wkly gins of $0.6 million nd $0.3 million, rspctivly. XRP nd Binnc rmind rltivly flt, indicting stbility in thir mrkts.
Rgionlly, th US ld th pck with inflows totling US$416 million. Mnwhil, Switzrlnd nd Grmny contributd $27 million nd $10.6 million, rspctivly. In contrst, Cnd xprincd minor outflows of $18 million.
Additionlly, th rport points to rbound in blockchin quitis, rcording $105 million in inflows. This incrs likly stms from th introduction of nw blockchin-focusd ETFs in th US mrkt.
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Text source: TronWeekly
