According to a weekly report from Coinshares, Global Crypto Investment Products looked back on its previous territory last week, recording a net inflow of $2.48 billion after the withdrawal period.
The renewed momentum increased the net inflow in August to $4.37 billion, bringing annual commitments to $35.5 billion.
James Butterfill, head of research at Coinshares, said the influx remained strong until the end of the week. Sentiment shifted on Friday after the release of core PCE inflation data, he said.
That disappointment, coupled with a drop in price momentum, has heavier in the broader market, reducing its managed total assets by 10% to $219 billion.
Ethereum surpasses Bitcoin
Ethereum continued to pull out most allocations during the reporting period as investors appear to be obsessed with digital assets, the second largest by market capitalization.
According to Coinshares, the ETH-focused fund raised $1.4 billion in new capital last week. It’s almost twice the number Bitcoin posted for $748 million.
The monthly flow further underscored the gap as Ethereum scored a fresh flow of $3.95 billion last month and Bitcoin registered $303 million in net leaks.
Coinshares suggested that this figure shows a tactical reallocation as investors move exposure from Bitcoin to other major assets.
Meanwhile, other altcoins appear to be benefiting from this reallocation.
According to Coinshares, the Solana product won $177 million and XRP won $134 million, supported by its hopes for approval from the Spot ETF. Together, these two assets added nearly $700 million in August’s inflow.
Meanwhile, Cardano and ChainLink reduced their allocations of $5.2 million and $3.6 million, while Sui saw a $5.8 million spill.
Regionally, US-based crypto investment products continue to drive most investments.
Data from Coinshares shows that US funds saw a $2.29 billion stream last week, while investors in Switzerland, Germany and Canada continued at $109.4 million, $69.9 million and $41.1 million, respectively.
With this in mind, Coinshare assumed that the broad distribution of inflows indicates that Friday’s dip is likely short-term profit acquisition rather than the beginning of a deeper retracement.
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