- For the week ending August 11, crypto asset investment products saw inflows totaling $176M.
- The total amount of funds received for ETH products this year stands at $862 million.
After the market crash on August 5, institutional investors poured capital back into cryptocurrency funds, and Ethereum exchange-traded products were their first pick. For the week ending August 11, crypto asset investment products saw inflows totaling $176 million, according to the Digital Asset Funds Weekly Report issued on August 12 by CoinShares.
It discovered that the market drop was particularly beneficial to Ether funds, which received $155 million (or almost 88% of the total) in inflows over the last seven days. In August, Ethereum funds again had the best monthly performance, receiving $150 million.
Debut of US Spot Ether ETF a Crucial Factor
Additionally, this takes the total amount of funds received for ETH this year to $862 million, which is the biggest since 2021. According to CoinShares, the debut of US spot-based ETFs has been a major factor in this.
The first week of inflows for US spot Ethereum exchange-traded funds (ETFs) since their inception in late July occurred on August 12th. A total of almost $105 million came in for the week of August 5th from the nine newly launched products. In contrast, Bitcoin ETPs have had withdrawals of $366 million so far this month and just $13 million in inflows for the week, as reported by CoinShares.
Strangely, $16 million was the biggest outflow from short Bitcoin ETPs since May 2023. As a result, there has been a significant exodus of investors, bringing the assets under management (AUM) for short positions to their lowest level since the beginning of 2024. During the same time period, multi-asset or altcoin funds received $18.3 million more than Bitcoin ETPs.
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