US leads $2.48 billion crypto inflow as Ethereum outshines Bitcoin in August

Global crypto investment products swung back into positive territory last week, recording $2.48 billion in net inflows after a period of withdrawals, according to CoinShares‘ weekly report.

The renewed momentum lifted August’s total net inflows to $4.37 billion, pushing year-to-date commitments to $35.5 billion.

James Butterfill, head of research at CoinShares, noted that inflows remained strong until late in the week. According to him, sentiment shifted on Friday after the release of Core PCE inflation data, which failed to reinforce expectations for a September rate cut by the Federal Reserve.

That disappointment, combined with declining price momentum, weighed on the broader market and drove total assets under management down 10% to $219 billion.

Ethereum outpaces Bitcoin

Ethereum continued to draw the bulk of allocations during the reporting period as investors appeared enamored with the second-largest digital asset by market capitalization....

3.35K

The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.