$BNB Crypto Investment Inflows Surged Last Week Following Powell’s Speech – CoinShares
Bitcoin Cryptocurrencies Investment
CoinShares reports massive crypto investment inflows, fueled by Powell's rate cut hints. Bitcoin and Ethereum ETFs see mixed flows.
Crypto Assets Fund Flows Surge on Positive Outlook
Ether (ETH), on the other hand, experienced outflows of $36 million. However, newly launched spot Ether exchange traded funds (ETFs) continued to attract inflows, totaling $3.1 billion in the month since their debut. This was partially offset by outflows from the Grayscale Ethereum Trust (ETH), which amounted to $2.5 billion.
Blockchain equities also saw positive inflows for the third consecutive week, totaling US$4.8 million.
Regionally, the United States accounted for the majority of inflows, receiving $498 million. Hong Kong and Switzerland also saw notable inflows of $16 million and $14 million, respectively. Germany, however, experienced minor outflows of $9 million, making it one of the few countries with net outflows year-to-date.
Spot Bitcoin ETFs Reach New August High
The combined value of the spot Bitcoin ETFs reached a new August high of approximately $58.4 billion on Friday, Aug. 23, following a week of consistent positive inflows.
Inflows on Friday were particularly strong, totaling $252 million, the largest since July 22. BlackRock’s iShares Bitcoin Trust (IBIT), the largest spot Bitcoin ETF by total asset value, continued to lead the pack with the highest net inflow of $86.8 million. Fidelity Wise Origin Bitcoin Fund (FBTC) followed closely with $64 million in inflows. While Grayscale Bitcoin Trust (GBTC) experienced an outflow of $35.6 million, its smaller Bitcoin Mini Trust (BTC) saw a $50.8 million inflow.
Other spot Bitcoin ETFs also saw notable inflows, including Bitwise’ BITB ($42.3 million), Ark and 21Shares’ ARKB ($23.8 million), and VanEck’s HODL ($14.4 million). Invesco’s BTCO and Valkyrie’s BRRR recorded smaller inflows, while the remaining funds saw minimal changes.
