 Crypto investment products see $436M inflow while Ethereum continues to suffer 
2024-09-17

According to the latest report by CoinShares, flows into cryptocurrency investment products rebounded last week, with $436 million in net inflows led by Bitcoin.
Following a two-week streak of outflows, crypto funds at asset managers such as BlackRock, Bitwise, Fidelity, Grayscale, ProShares and 21Shares saw positive flows for the week ending Sept. 13 in what CoinShares believes can be explained by the market’s expectation of an interest rate cut by the US Federal Reserve. 
In the latest “Digital Asset Fund Flows Weekly Report,” CoinShares head of research, James Butterfill, wrote:
Cointelegraph
However, Butterfill added that trading volumes in crypto investment products remained flat for the week at $8 billion, much lower than the $14.2 billion average for 2024.
Bitcoin investment products dominate as Ethereum struggles
Bitcoin BTCUSD investment products led the reversal, seeing $436 million in inflows, having seen a 10-day run of outflows totaling $1.8 billion, CoinShares explained.
Short Bitcoin investment product flows also reversed, registering net outflows of $8.5 million following three consecutive weeks of inflows.Cointelegraph
Solana SOLUSD investment products also witnessed net inflows of $3.8 million last week — the fourth week in a row. Litecoin LTCUSD and Cardano (ADA) also saw inflows totaling $300,000 and $600,000, respectively.
However, Ether ETHUSD “continued to suffer,” experiencing $19 million in outflows during the Sept. 9 to Sept. 13 week, adding to $98 million in negative flows the previous week. CoinShares believes this is due to concerns over the profitability of the layer-1 blockchain following the Dencun upgrade.
Some traders say the significant flows into spot Bitcoin ETFs since their market debut on Jan. 11 compared to Ether ETFs experiencing net outflows have swung investor preference toward Bitcoin. 
This has seen the ETH/BTC ratio drop below $0.04, the lowest level since April 2021. Cointelegraph
Since going live on July 23, Ether ETFs have recorded net outflows of $581 million. In comparison, spot Bitcoin ETFs took on over $12 billion in their first two months and have recorded over $17 billion in net inflows in just over eight months of trading.Cointelegraph
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.