CDS Crypto News Global Crypto Funds Rebound with $436M Inflows Amid 50 bps Rate Cut Speculation
Crypto News

Global Crypto Funds Rebound with $436M Inflows Amid 50 bps Rate Cut Speculation

86
Global Crypto Funds Rebound with $436M Inflows Amid 50 bps Rate Cut Speculation

Global Crypto Funds Inflows Surge as Investors Eye Potential Fed Rate Cut

Global Crypto Funds Inflows Surge as Investors Eye Potential Fed Rate Cut

According to CoinShares, following two weeks of net outflows, cryptocurrency funds at asset managers, including BlackRock, Bitwise, Fidelity, Grayscale, ProShares, and 21Shares, saw net inflows of $436 million globally last week.

We believe the surge in inflows towards the end of the week was driven by a significant shift in market expectations for a potential 50 basis point interest rate cut on September 18,

CoinShares Head of Research James Butterfill

Nonetheless, Butterfill pointed out that the week’s trade volume was unchanged at $8 billion, far less than the average of $14.2 billion for 2024.

Bitcoin ETFs Dominate with $436M Inflows as Ethereum-Based Funds Face Challenges

Bitcoin ETFs Dominate with $436M Inflows as Ethereum-Based Funds Face Challenges

Following 10 days of net outflows totaling $1.2 billion, bitcoin-based funds led the flows once more, recovering to create $436 million in net weekly inflows. After three weeks of inflows, short bitcoin investment product flows also reversed, with net outflows of $8.5 million. The U.S. market was also the largest, with $403.9 million in net weekly inflows coming from spot Bitcoin exchange-traded funds located there.

Additionally, funds domiciled in Switzerland and Germany experienced net inflows of $27 million and $10.6 million, respectively, while products based in Canada saw net withdrawals of $18 million. Nevertheless, Ethereum-based funds were still having trouble. Last week they saw net outflows of $19 million, on top of the $98 million that had been negative the week before.

For more up-to-date crypto news, you can follow Crypto Data Space.

Global Crypto Funds Rebound with $436M Inflows Amid 50 bps Rate Cut Speculation
Written by
lectertodd

Lectertodd is 27 years old. She graduated from Çankaya University, Department of Psychology, in 2021. She actively works as a writer, translator, and editor for various websites. Moreover, she loves reading, researching, and learning new things.

Leave a comment

Leave a Reply

Related Articles

Solana Price Prediction- Buy, Hold, or Sell in November 2024?

Is Solana (SOL) a good investment for November 2024? Explore price forecasts,...

Bitcoin Price Volatility Expected After U.S. Election: What Analysts Predict for BTC

Bitcoin's price volatility is expected to increase following the U.S. presidential election,...

Bitcoin Options Market Turns Cautious: Higher Demand for Puts Than Calls Before Election

Bitcoin Options Market Turns Cautious: Higher Demand for Puts Than Calls Before...