Crypto Funds Rebound With $2.48B Weekly Inflows; Ethereum Outpaces Bitcoin
Digital asset investment products bounced back from recent weakness last week, attracting $2.48 billion of inflows and bringing August’s total to $4.37 billion and year-to-date inflows to $35.5 billion. This comes even as total assets under management fell roughly 10% from their recent peak to about $219 billion. The data come from CoinShares’ latest weekly report, Volume 249.
Investors piled into risk assets through most of the week, but flows turned slightly negative on Friday after the U.S. Core PCE inflation print failed to strengthen hopes for a Fed rate cut in September, a development traders said trimmed risk appetite and prompted short-term profit-taking. The Bureau of Economic Analysis shows the Core PCE…
