Digital Asset Investment Products See $321M Inflows Following FOMC’s 50bp Rate Cut
Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...
Digital asset investment products experienced their second consecutive week of inflows, attracting a total of $321 million.
The increase in investment is believed to have been influenced by the Federal Open Market Committee’s (FOMC) recent decision to adopt a more dovish stance, including an unexpected 50 basis point interest rate cut, CoinShares said in a Monday report.
The move has spurred a wave of optimism across the market, leading to a 9% increase in total assets under management (AuM), which now stand at $9.5 billion.
From a regional perspective, the United States led the inflows with $277 million, while Switzerland followed with $63 million, marking its second-highest weekly inflows of the year.
However, not all regions experienced growth.
Germany, Sweden, and Canada saw outflows of $9.5 million, $7.8 million, and $2.3 million, respectively.
Bitcoin was the primary beneficiary, receiving $284 million in inflows.
Interestingly, short-bitcoin investment products also attracted $5.1 million, reflecting some hedging activity among investors.
Ethereum, however, continued its downward trend with outflows totaling $29 million for the fifth consecutive week, driven by withdrawals from the Grayscale Trust and limited interest in newly issued ETFs.
Solana, on the other hand, maintained steady inflows of $3.2 million, showing resilience amid market volatility.
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