As reported by CoinShares, while Ethereum products continue to outshine their peers, the pace of global crypto fund inflows has seen a reduction due to the ongoing uncertainty surrounding the Federal Reserve’s monetary policy. Leading asset managers including BlackRock, Bitwise, Fidelity, Grayscale, ProShares, and 21Shares reported net inflows of $286 million globally last week, marking the eighth consecutive week of gains which now totals $11.3 billion.
“Investors are adopting a cautious approach, waiting for further signals from the U.S. Federal Reserve on inflation, leading to a noticeable slowdown,” expressed James Butterfill, CoinShares Head of Research in his recent report.
Despite the slowdown, Ethereum investment products remain strong, leading for the second week in succession, with net inflows of $296.4 million. This culminates in a seven-week positive streak totaling $1.5 billion, which represents 10.5% of assets under management at global Ethereum-based funds. “The impressive run of inflows since the U.S. Election last November marks a significant recovery in investor sentiment,” Butterfill added.
U.S. spot Ethereum exchange-traded funds contributed $281.3 million to the weekly inflows, as per data collated by The Block. On the flip side, Bitcoin-based products worldwide experienced their second consecutive week of net outflows, losing $56.5 million during the period. Other altcoin investment products were relatively quiet.
Net weekly inflows were seen across various regions, led by the U.S. with $175 million, followed by Germany, Switzerland, Canada, and Australia. However, minor net outflows were noted in Brazil and Hong Kong, ending Hong Kong’s record inflow streak.
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