Between September 12 and 20, investment products based on digital assets recorded an inflow of $1.9 billion, according to a report by CoinShares.
“After months of anticipation, the Fed lowered the key rate. Although investors initially reacted cautiously to the regulator’s shift from a ‘hawkish’ policy, inflows resumed by the end of the week — $746 million came in on Thursday and Friday as markets began to grasp the implications,” analysts noted.
The AUM of exchange-traded funds reached a yearly high of $40.4 billion, nearing the cumulative figure for 2024 — $48.6 billion.
The majority of the weekly inflow went to Bitcoin products — $977 million. Ethereum funds received $772 million, bringing the total for the year to a record $12.6 billion.
Funds focused on Solana and XRP attracted $127.3 million and $69.4 million, respectively. On September 19, a spot ETF based on Ripple cryptocurrency was launched in the US. The debut session saw a total trading volume of $37.7 million.
Regionally, the US led with $1.8 billion. Germany ($51.6 million), Switzerland ($47.3 million), and Brazil ($9.3 million) rounded out the top three.
From September 5 to 13, investment products based on digital assets recorded an inflow of $3.3 billion.
Correction Despite Inflows
The new week began with a downturn in the crypto market. On September 22, Bitcoin’s price fell to $112,000, and Ethereum’s rate dropped to $4,000. Daily liquidations reached $1.7 billion.
Over the past 24 hours, all top 10 cryptocurrencies by market capitalization showed declines. XRP, Solana, and Dogecoin experienced the largest losses, dropping by 5.9%, 7.5%, and 10.8%, respectively.
Amid the correction, analysts disagreed on the potential for a seasonal rise in digital assets in October.