CoinShares: Total outflows from digital asset investment products reached $1.43 billion last week

Digital asset investment products saw their first big outflows in weeks last week, totalling $1.43 billion, the highest level since March, according to a new report from CoinShares. Trading volumes in exchange-traded products (ETPs) reached $38 billion last week, about 50 per cent above the year's average, as investor sentiment on US monetary policy became increasingly polarised. Early in the week, pessimism surrounding the Fed's stance led to $2 billion of outflows. However, sentiment shifted after Jerome Powell's speech at the Jackson Hole symposium, which was widely interpreted as more dovish than expected, triggering inflows of $594 million.
Ethereum rallied sharply midweek, capping outflows at $440 million, compared with $1 billion for Bitcoin. Month-to-date data showed $2.50 billion in Ethereum inflows and $1 billion in Bitcoin net outflows, marking a significant change in investor sentiment towards both assets. Year-to-date, Ethereum's inflows account for 26% of its total assets under management, compared to just 11% for Bitcoin.