Bitcoin (BTC) Inflows Surge to $543M as Powell Hints at Rate Cuts

Digital
asset
investment
products
experienced
significant
inflows
totaling
$533
million
last
week,
according
to
CoinShares.
This
marks
the
largest
inflows
in
five
weeks,
spurred
by
remarks
from
Federal
Reserve
Chairman
Jerome
Powell
at
the
Jackson
Hole
Symposium,
where
he
hinted
at
potential
interest
rate
cuts.

Bitcoin
(BTC)
Leads
Inflows

Bitcoin
(BTC)
was
the
primary
beneficiary,
attracting
$543
million
in
inflows.
The
majority
of
these
inflows
occurred
on
Friday,
following
Powell’s
dovish
comments,
highlighting
Bitcoin’s
sensitivity
to
interest
rate
expectations.
This
surge
underscores
the
cryptocurrency’s
role
as
a
hedge
against
macroeconomic
uncertainties.

Ethereum
(ETH)
and
Other
Digital
Assets

Ethereum
(ETH)
faced
outflows
totaling
$36
million
last
week.
However,
the
new
Ethereum
ETFs,
launched
a
month
ago,
have
seen
substantial
inflows
of
$3.1
billion,
partially
offset
by
outflows
from
the
Grayscale
Ethereum
Trust,
which
recorded
$2.5
billion
in
outflows.

Blockchain
equity
investment
products
also
saw
inflows
for
the
third
consecutive
week,
amounting
to
$4.8
million.
This
trend
indicates
growing
investor
interest
in
blockchain
technology
companies.

Regional
Insights

Regionally,
the
United
States
led
the
inflows
with
$498
million.
Hong
Kong
and
Switzerland
also
recorded
notable
inflows
of
$16
million
and
$14
million,
respectively.
Conversely,
Germany
experienced
minor
outflows
totaling
$9
million,
making
it
one
of
the
few
countries
with
net
outflows
year-to-date.

Despite
lower
trading
volumes
compared
to
recent
weeks,
activity
remained
robust,
with
volumes
reaching
$9
billion
for
the
week.

For
more
detailed
insights,
visit
the

CoinShares
blog.

Image
source:
Shutterstock