Ethereum (ETH) Rebounds as ETH-Based Product Inflows Hit $87M, Bitcoin (BTC) Attracts $1B in Weekly Inflows

Ethereum's five-week decline has been reversed as ETH-based product inflows jumped to $87 million during the previous week.

Fresh optimism over the US monetary policy and its impact on digital asset prices has led to the first ETH-based product inflows since early August, according to Coinshares.

Over the past week, digital asset investment products witnessed inflows for the third consecutive week, reaching a total of $1.2 billion, as stated in the latest edition of the European asset manager's weekly report.

This positive sentiment is further fueled by the approval of options for certain US-based investment products, the report adds.

However, despite these positive developments, trading volumes did not experience the same growth and instead suffered a slight decline of 3.1% week-on-week.

Bitcoin experienced $1 billion in weekly inflows, which also prompted $8.8 million in inflows into short-BTC investment products. Solana, on the other hand, encountered $4.8 million in outflows.

Coinshares also observed varying sentiment among altcoins, with Litecoin and XRP receiving inflows of $2 million and $0.8 million, respectively, over the past week. During the same period, Chainlink and Cardano settled with $0.4 million and $0.1 million in inflows, respectively. Meanwhile, BNB recorded outflows of $1.2 million.

Regional sentiment was also mixed, as the US attracted $1.2 billion in inflows, and Switzerland followed with $84 million, marking its highest since mid-2022. Canada and Australia also witnessed minor weekly inflows of $1 million and $0.6 million, respectively.

In contrast, Germany and Brazil posted outflows of $21 million and $3 million, respectively. A similar trend was seen across Sweden and Hong Kong which reported $2.5 million and $1 million in outflows over the past week.

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