According to CryptoPotato, Ethereum experienced its highest week of capital inflow since March, with total inflows reaching $69 million over the past week. This surge is largely due to the unexpected decision by the US Securities and Exchange (SEC) to permit spot Ether ETFs. Consequently, Ethereum's year-to-date inflows increased to nearly $81 million. This growth in Ethereum-based investment products significantly influenced other digital asset products, drawing in an impressive $2 billion. This led to a five-week streak of inflows totaling $4.3 billion.
Despite Ethereum products overshadowing Bitcoin in recent weeks, Bitcoin remained the primary focus, with weekly inflows of $1.97 billion. Conversely, short-Bitcoin investments saw outflows for the third week in a row, amounting to $5.3 million. Altcoins also experienced a slight increase in activity. Investment products based on Solana, Litecoin, and Chainlink saw $0.7 million in weekly inflows each. XRP and Fantom stood out with inflows of $1.4 million and $1.2 million over the past week, respectively.
Trading volumes in exchange-traded products (ETPs) rose to nearly $13 billion for the week, marking a 55% increase from the previous week. CoinShares' Digital Asset Fund Flows Weekly Report noted inflows across almost all providers, along with a continued slowdown in outflows from established players. This shift in sentiment is thought to be a direct reaction to weaker-than-expected macroeconomic data in the United States, leading to anticipations for monetary policy rate cuts. Positive price movements resulted in a rise in total assets under management (AuM), exceeding the $100 billion mark for the first time since March.
Regionally, the US saw the highest inflows last week, recording $1.98 billion. CoinShares reported that the first day of the week marked the third-largest daily inflow ever. The iShares Bitcoin ETF now surpasses the incumbent Grayscale, with $21 billion in assets under management. Hong Kong, Canada, and Switzerland followed with inflows of $26.1 million, $12.7 million, and $10.6 million, respectively. Brazil, Germany, and Australia reported inflows of $9.5 million, $2.5 million, and $1.7 million, respectively. Sweden, however, saw a weekly outflow of $9.2 million.