Étienne Girard
Crypto investment products managed by giants like BlackRock, Bitwise, Fidelity, Grayscale, ProShares, and 21Shares recorded $2.48 billion in net inflows last week, a sharp turnaround from the prior week’s outflows, according to CoinShares data.
This lifted August’s total inflows to $4.37 billion, pushing the year-to-date figure to $35.5 billion. However, overall assets under management (AUM) slipped 10% to $219 billion due to negative market price action.
James Butterfill, Head of Research at CoinShares, noted:
“Inflows were steady during most of the week but turned negative on Friday after the release of Core PCE data, which dampened hopes of a September Fed rate cut, disappointing digital asset investors.”
Ethereum Continues to Dominate Over Bitcoin
The U.S. led the charge with $2.29 billion in inflows, while Switzerland, Germany, and Canada also contributed $109.4 million, $69.9 million, and $41.1 million, respectively. Butterfill highlighted that this wide regional spread indicates Friday’s outflows were likely profit-taking rather than a negative trend.
Ethereum-based products saw $1.4 billion in inflows, nearly double that of Bitcoin’s $748 million. According to PRIME’s data, U.S. spot Ethereum ETFs attracted $1.08 billion, while U.S. spot Bitcoin ETFs brought in $440.8 million.
August: A Big Month for Ethereum Funds
Throughout August, Ethereum products gained $3.95 billion, while Bitcoin products suffered $301 million in outflows.
Meanwhile, alternative assets are gaining traction as well:
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Solana investment products drew $177 million
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XRP funds saw $134 million in inflows
Both assets benefited from growing optimism around potential U.S. spot ETF approvals, Butterfill added.
