Crypto ETFs Receive $321M

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According to the latest CoinShares report, crypto exchange-traded funds (ETFs) saw an increase in inflows for the second week in a row, with a total of $321 million.

Bitcoin ETFs attracted the majority of the inflows, totaling $284 million, while Ethereum products continued to experience negative net outflows for five consecutive weeks, with a total of $29 million.

The increase in inflows can be attributed to the Federal Open Market Committee’s (FOMC) decision to cut interest rates by 50 basis points last Wednesday.

This resulted in a 9% increase in total assets under management and a 9% increase in total investment product volumes, reaching $9.5 billion. In terms of geographic distribution, the United States had the highest inflows of $277 million, followed by Switzerland with $63 million.

On the other hand, Germany, Sweden, and Canada experienced outflows of $9.5 million, $7.8 million, and $2.3 million, respectively.